Bitcoin mining has been one of the most talked-about topics in the world. Recently, Iran announced that it would approve international miners to mine Bitcoin in the country. This news has aroused widespread attention and discussion in the industry. This article will explore in depth the opportunities and challenges that this new policy brings to international miners, and analyze its possible impact on the Bitcoin market and the global economy.

As a virtual currency, the stability and fluctuation of Bitcoin's value are directly related to the stability of the global financial market. And Bitcoin mining is one of the key links to ensure its operation. Iran's policy changes to open up Bitcoin mining will bring new opportunities to international miners. In this new market, international miners can use Iran's abundant cheap electricity resources to reduce mining costs and increase profit margins. At the same time, the Iranian government's open policy will also attract more international funds to flow into the country and promote the development of the local economy.

However, the challenges that come with it cannot be ignored. As a country with high geopolitical risks, Iran's policy environment is relatively unstable. International miners may face challenges such as policy changes and legal risks when mining in such an environment. Moreover, although Iran's electricity supply is cheap, its stability and reliability also have certain hidden dangers, which may affect the mining efficiency and income of international miners.

From the perspective of the global economy, the adjustment of Iran's Bitcoin mining policy will also have an impact on the Bitcoin market and the global financial landscape. As an important country in the Middle East, the development of Iran's Bitcoin mining industry will further promote the development of the digital economy in the Middle East and promote economic cooperation and exchanges in the region. At the same time, the opening of Iran's Bitcoin mining market will also inject new vitality into the global Bitcoin market and bring new opportunities and challenges to the development of the global digital currency market.

In summary, Iran's new Bitcoin mining policy has brought new opportunities and challenges to international miners. International miners will face many variables on the road to mining Bitcoin. They need to carefully assess risks and benefits, seize opportunities, and turn challenges into opportunities. At the same time, the global Bitcoin market will also change due to the adjustment of Iran's policies, which will have a profound impact on the global economic landscape. In this era full of variables and opportunities, international miners need to remain vigilant, respond flexibly, seize opportunities, and realize their own mining dreams.

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According to local reports, the Central Bank of Iran (CBI) plans to allow legal and compliant Bitcoin mining, as long as operators are charged electricity fees based on export prices. Central Bank Minister Abdol Nasser
Hemmati explained that the revenue from mining cryptocurrencies should flow back into the Iranian economy.

In December 2018, reports emerged that miners from China, Spain, Ukraine, Armenia, and France were mining Bitcoin in the oil-rich country of Iran.

Electricity is very cheap in the Middle Eastern country, and in April, stories of Chinese miners heading to Iran were even cheaper, with electricity prices at $0.006 per kilowatt-hour (KWh).

Then, in late June, a spokesperson for Iran’s state-run power grid entity Tavanir said that electricity consumption had soared by 7% compared to the previous year. Tavanir executive Mostafa
Rajabi Mashhad further blamed illegal Bitcoin mining operations for the country’s increased electricity consumption.

Rajabi told the media that other Iranian provinces were experiencing difficulties with electricity due to high power consumption, and stressed that "illegal Bitcoin miners will be identified and their electricity will be cut."

According to Rajabi's statement, Bitcoin miners defied his warnings, and Iranians shared photos of Bitcoin mining in a mosque. The regional publication Iran Daily reported that there are about 100 unauthorized Bitcoin mining areas in various provinces in Iran.

The Tabnak website claimed that Iranian law enforcement seized 1,000 Bitcoin mining machines on June 28. "Tavanir official Arash
Navab told state TV that two of the Bitcoin mining farms had been identified, with a power consumption of 1 megawatt." Bitcoin mining has become a very popular tool for evading economic sanctions in many provinces of Iran.

"Everyone is talking about Bitcoin and how to get it," Mahsa Alimardani, a local Iranian researcher at the Oxford Internet Institute, told local reporters.

Later on July 10, Mohammad Sharqi, managing director of the Iranian Blockchain Association, told local media that Chinese bitcoin miners have asked Iranian officials to let them set up factories in the country and have begun official discussions. Chinese miners want to operate in Iran's free trade zones in Anzali, Kish Island, Qeshm Island, Chabahar, Alvand and Aras. "The Chinese have made requests for cryptocurrency mining in free zones through official channels," Sharqi explained to the media. Nasser Hakimi, deputy governor of new technologies at the CBI, explained that day that local anti-money laundering agencies have concerns about virtual currency transactions. Sharqi believes that stories of extreme electricity consumption are exaggerated. According to a spokesman for Iran's electrical industry, there are more than 148,000 mining machines in the country despite government warnings. Central Bank of Iran Governor: "Bitcoin mining will be authorized if miners pay electricity export prices and help bring money back into the Iranian economy"

Central Bank Minister Abdol Nasser Hemmati explained on July 10 that the government will approve Bitcoin mining operations in Iran, even though Iran has not yet officially completed the regulation of cryptocurrency trade.
Hemmati told the media that the deal comes with two caveats that must be strictly followed if mining operations are launched in Iran.
"Mining operations for international digital currencies should be carried out based on the price of exported electricity," Hemmati elaborated. "More importantly, these mined currencies should be supplemented to the national economic cycle," the CBI minister added.

Hemmati warned that the CBI will not tolerate cryptocurrencies that affect the price of Iranian rial or gold.

The report also detailed that Iranian law enforcement has begun inspecting factories, mosques and utility service areas that benefit from extremely low electricity prices.
At the export tax rate charged to neighboring countries, Bitcoin miners must pay between $0.07 and $0.10 per kilowatt-hour. According to Presstv, utility service area rates in Iran can be as low as $0.05 per watt. 
Electricity prices in Iran can be even lower, at $0.006 per kilowatt-hour, in places like greenhouses and mosques, as long as mosque leaders don’t mind breaking edicts to use subsidized electricity.