Bitcoin Miners To Use Electricity From Three Power Plants In Iran
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Bitcoin Miners To Use Electricity From Three Power Plants In Iran

September 22, 2020      Jyoti Singh

The state power utility Thermal Power Plant Holding Company (TPPH) has notified that from now, Bitcoin miners in Iran will be using the electricity from three power plants. 

On September 22, the managing director of TPPH, Mohsen Tarztalab, announced that the state power utility has installed all the required equipment in Ramin, Neka and Shahid Montazeri power plant.

Tender For Power Plant 

He further mentioned that soon the government firm will start issuing tenders for these projects. Tarztalab stated that the people who want to file for the tenders can download the documents from the website.

It has been reported that only expanded turbines in the region will offer the excess electricity to crypto miners, as they do not consume liquid fuels. 

Tarztalab has mentioned that turbines have not been linked to the national grid, and the electricity they would generate will only be used by the power plant.

But presently, the state power utility has not mentioned clearly, that in total, how much electricity would be offered to the crypto miners for their activities, from the three facilities.

An earlier report notified that in July, Iran authorized 14 farms in its region for mining activities. Notably, each crypto mining farm gas the capacity of 300 megawatts. 

However, recently, a total of 1,100 illegal bitcoin miners have been ceased from the country. 

Around 1000s of Authorized Bitcoin Miners

It is to be noted that there are also around 100 legally authorized Bitcoin miners in the country.

Although in the month of July, the Ministry of Energy allowed power plants to offer their electricity to miners for the activities, they did not do so. 

The Iranian Government is continuously supporting virtual assets because its industry helps the government improve the country’s consistently falling revenues.

Additionally, the TPPH head has said, “Unfortunately, constant price hikes and the obligation for supplying electricity with stable prices to subscribers have caused a large gap between revenues and expenditures in the country’s electricity industry, and we need new sources of income to fill this gap.”

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#Electricity #Managing director of TPPH #Mohsen Tarztalab #Neka #Power plants #Ramin #Shahid Montazeri #Thermal Power Plant Holding Company (TPPH)
Jyoti Singh
Jyoti Singh

Jyoti is a graduate from GGSIPU and has done her PG Diploma in English Journalism from IIMC. Presently, she is working as a content writer with Agio Support Solution Pvt. Ltd. Her aim is to provide informative content about cryptocurrency and blockchain, to the tech-enthusiasts.