Mining 1 Bitcoin (BTC) in Iran will cost 208 million Tomans

Electricity required for mining each bitcoin in Iran is about 208 million tomans (The currency of Iran, which is worth about $ 1 for every 20,000 tomans.), and the initial capital required to create a cryptocurrency farm is about 4 billion Tomans for investors in this industry, meanwhile, the daily price of this currency is currently about 268 million tomans.

According to what has been announced, miners in this industry must pay their electricity at the export rate of about 965 Tomans, while the price of industrial electricity is below 150 Tomans.

Therefore, the cost of mining each Bitcoin is about 208 million tomans for miners.

Thus, the miners say that it is unattractive to invest in this industry in Iran and believe that even the profit of depositing in the bank is several times the profit of setting up cryptocurrency mining farms.

However, Mustafa Rajabi Mashhadi, a spokesman for the electricity industry, has denied the reports and claimed about 14 300-megawatt branches were sold in the Bitcoin mining sector, mainly in special economic zones and industrial estates. This amount of demand indicates the profitability of investing in this industry In Iran, a country that a lot of its people still don’t know about the existence of cryptocurrency, and the ones who know are not allowed to use it or don’t know how to use it or don’t even trust it!!!

There are plenty of exchange sites by the way who are trying to make a profit out of People's ignorance, instability of the dollar price  in Iran, and the ups and downs of digital currencies.

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Melina Mehr
Melina Mehr

I'm a freelance writer, passionate about, music, books and nature.

Iran and Cryptocurrency
Iran and Cryptocurrency

News about Bitcoin in Iran and the gradual progress towards the acceptance of cryptocurrencies especially among the ordinary people, not just rich and influential people, but the real ones and the same people I care about the most. Of course, to achieve this, many obstacles must be crossed.

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