The mining operation is Iran’s largest and will be in Iran’s Semnan city. So far, iMiner has spent 311 billion rials, about $7.3 million, to set up the operation. According to a local media report, Iran is also allowing iMiner to offer cryptocurrency services ranging from trading to custody, to residents in the country. The news report also says that iMiner already has 2,000 mining machines.
Iran is seeing a slow but steady rise in Bitcoin interest among its citizens. Miners have also been known to favor the country because of its cheap energy rates. For a long time, until last year, Iran was averse to cryptocurrency mining. Authorities were bothered that crypto could significantly dent the country’s monetary sovereignty, and defeat its fiat.
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