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Iran, Turkey to License Crypto-Centered Mining Company Money

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Iran, Turkey to Verdi License Crypto-Centered Mining Company Money

Iranian Industry, Mining and Trade Ministry, Turkey-based crypto-currency mining company gave license to operate in the country iminer.

Iranian authorities licensed the cryptocurrency mining company iMiner to operate in the province of Semnan. Iminer tower with 6,000 passing a Turkey-based activities, one of the largest mining company in the country’s miners crypto is claimed to be made. According to a published article, iMiner invested about $ 7.3 million in the crypto mining farm in Semnan Province, Iran. It will be used to extract the cryptocurrency with 6,000 towers with a total capacity of 96,000 terahash (TH / s) per second, which means an hash power equal to an average of 16 TH / s per equipment.

iMiner will continue to serve the Middle East

Imines is based in Turkey, through its offices in Tehran and Semnan to customers in the Middle East countries will continue to provide trading and custody services. Crypto mining attracts interest in Iran due to subsidized power rates, and companies based in China, Ukraine and France want to open crypto mining farms in the country. As China continues to host the largest number of crypto mining companies, countries with cheap electricity are vital to crypto mining.

Iran Gives Over 1000 Licenses to Crypto Money Mining Companies.

The Iranian government labeled cryptocurrency mining as industrial activity last year in July, and has since granted over 1,000 licenses to crypto mining companies. However, the Iranian government has progressed carefully due to the opaque nature of cryptocurrencies and the electricity intensive process tension on Iran’s national power grid. Crypto mining consumes a lot of energy as it uses expensive software to solve complex puzzles to verify transactions in the cryptocurrency.

Currently, the Iranian economy suffers from pandemics and various sanctions imposed by the US and other western countries. Some Iranian military officials have suggested using cryptocurrencies to avoid sanctions and to facilitate trade.

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