Three thermal power plants within Iran’s borders are being prepared for Bitcoin mining. The project, where the energy released as a backup in the power plant will be transferred to Bitcoin miners, can make Iran a new center.
According to Mohsen Tarztalab, president of Iran’s Thermal Power Plant Holding Company (TPPH), a tender will be launched to use the backup energy of 3 thermal power plants for Bitcoin mining, according to the local press yesterday. It was announced that the necessary equipment was installed in the Ramin, Neka and Shahid Montazeri plants and the auction documents will be shared with the public soon.
TPPH, which accelerated its works with the lifting of the ban that prevented the power plants from getting involved in mining in July, announced that with this project, Bitcoin miners will reach more affordable prices specifically for energy. Manager Tarztalab added that this move is one of the most stable ways to generate profits in the energy industry.
Iran Manages Bitcoin Mining Effectively in Favor
At the beginning of 2020, Iran relaxed its bans on Bitcoin mining and then even licensed over a thousand Bitcoin miners for a share of the earnings. With these moves, Iran has become one of the most tolerant countries in Bitcoin mining.
The purpose of the government in granting these licenses was to both control the mining movement and fix the Iranian economy to some extent with the revenues from mining. But this time too, the activities of BTC miners have started to put enormous pressure on the country’s power network, causing concern among authorities as well.
With the move that paves the way for power plants to provide energy to Bitcoin miners, the government aims to ease this burden on the country’s energy network. Besides, providing easy and more convenient electricity to Bitcoin miners could make Iran the new mining hub. Iran is currently the 6th country in the world with the highest hash rate since April, according to the “Center for Alternative Finance” data published by Cambridge University.