Bitcoin Mining Is Now Legal In Iran

• Iran has lifted its ban on bitcoin mining instituted in May, and licensed farms can come back online.
• The government sought to restrict energy usage during the summer’s three months due to the high toll temperatures and air conditioning take on the country’s power grid.
• Iran’s cheap electricity attracts bitcoin miners, who set up shop there to increase profit margins.

Iranian bitcoin miners have been given the green light to spin up their rigs back online, Iran International reported. Since the beginning of the summer, mining operations had been at a halt over concerns that the country’s power grid wouldn’t be able to handle the extreme heat months. Only licensed farms are allowed to come back online.

In May, Iran’s former president Hassan Rouhani announced a ban on bitcoin mining that would last until late September in an attempt to restrict mining farms’ energy usage. At the time, Rouhani said miners who had a state permit for operating their business consumed only 30 megawatts (MW) of power, whereas unauthorized miners consumed 2,000 MW.