Largest Bitcoin Mining Farm in Iran Receives License

iMiner, a Turkish cryptocurrency mining company, recently received a license to legally operate in Iran. The license was issued by the Ministry of Industry, Mine and Trade of Iran, officially making iMiner's local operations overseen by a reliable watchdog.

Iran has seen a shift in the number of crytpo mining operation, with one of the main reasons being its low electricity costs.

Recent reports claim that the mining company had established its operations in the Iranian Semnan Province, with an approximate 6000 ASIC miners. Furthermore, the initial investment in the facility is around $7.3 million, in turn making the farm one of the biggest in the world.

With all these miners and funding, it is expected for the farm to produce 96k terahash per second. Doing the math, it turns out that iMiner has installed all Iranian miners to work at the same time, with each one generating 16 terahashers per second.

The mere size of iMiner's operation in Iran has made some experts worry about the future of local small-time miners. The government of Iran briefly addressed this issue by stating that its licensing sector will ensure a fair environment for both small and big crypto mining firms.