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Iran may become the second Silicon valley for miners from China

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Due to the fact that the Chinese authorities intend to ban the extraction of digital currencies in the country, crypto miners from China are actively looking for a country in which they could freely carry out their activities.

This is due to the fact that the cryptocurrency sphere puts too much pressure on the government. In addition, mining of digital currencies requires a huge amount of electricity. Therefore, according to some sources, it is Iran that could become a new haven for Chinese miners. For comparison, in Iran the average cost per kWh of energy is $ 0.006, versus $ 0.015 in China.

However, in Iran, the Chinese maneuvers may also face problems: despite the low cost of electricity, the cryptocurrency sphere in Iran is under strict administrative control. Customs often confiscate devices for mining digital currencies.

Installation and use of equipment for the extraction of coins are allowed on the territory of the Industrial Cloud Computing Park in Iran. However, in this case, the miners must pay compensation for the costs of electricity used. Now in this park there are more than 10 thousand mining devices.

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