IMiner mining farm licensed by Iranian authorities

The iMiner mining farm has received a state license from the Ministry of Industry, Development of Subsoil and Energy of Iran for the extraction of digital tools in the country.

The document, in particular, allows the first cryptocurrency to be mined using computing power of 96 thousand teraheches per second at a mining farm in the central city of Semnan. Last year, the Ministry of Energy noted in the report that this location was included in the red zone for the highest energy utilization rate. It is worth noting that iMiner positions itself as “one of the first and most respected” companies offering custody and other services to market participants in Turkey, Russia, Canada and the United States of America.

We add that mining services are becoming increasingly popular in Iran. A positive factor for development in the industry are subsidized electricity tariffs. Iranian regulatory authorities issued more than 1 thousand licenses for working with cryptocurrencies in 2019.