Iran has developed an electricity tariff plan for cryptocurrency miners

Iran's Economic Commission has completed the development of electricity tariffs for miners of cryptocurrencies based on the rates applied to export electricity, Financial Tribune reported citing Deputy Energy Minister Homayun Hari.

Haery didn't specify what the rate was agreed upon. He noted that export prices were appropriate for several reasons, including the average cost of electricity in the Gulf region.

Earlier, the head of Iran's Energy Industry Syndicate Ali Bakhshy proposed to set the electricity price for miners at $0.07 per kilowatt hour. The standard rate in Iran is $0.05 thanks to government subsidies. The Ministry of Energy, however, claims that the production of one Bitcoin takes approximately $1,400 in subsidies.

Currently, the proposed tariffs are awaiting approval by the Iranian government.

Also on Sunday, the Tehran-based Mehr news agency reported, citing Deputy President of the Iranian Customs Administration Jamal Arunagi, that not a single permit for importing cryptocurrency mining equipment has been issued in the country yet.

Arunagi explained that his agency had imposed import duties on miners, which, however, did not lift the current ban on such equipment. He also noted that if the government approves the import of miners, the Customs Department will be ready to develop appropriate directives.