Crypto mining

Think Tank Advises Iran to Embrace Crypto Mining

A report from Iran’s Presidential Center for Strategic Studies has urged the country to adopt mining Bitcoin and other digital assets as a means of evading international sanctions being imposed on the country.

According to the report, the country could utilize the fact that cryptocurrencies are mostly untraceable to its advantage and as a means of circumventing sanctions. The report went on to add that crypto mining activities could also be very beneficial to the Iranian economy, estimating that the country could be generating as high as $2 million per day and close to $700 million in revenue through just mining crypto assets. This is in line with an earlier report of ours where we stated that the Iranian government could earn trillions through mining.

Crypto Mining Could Provide More job Opportunities 

The center also went on to suggest that the Iranian government should support crypto mining activities as it could provide new job opportunities in the Asian country. This can however, only be achieved if the country provides an enabling environment for large mining industries to thrive.

In their words,

If large mining farms are established the need to employ manpower for monitoring and repair, security, electrical engineers and technical staff related to hardware and software equipment will increase, which leads to more job opportunities in other sectors.

It noted that the government could be of great help to the community if it supported collective mining and also set up new mining pools in locations that are very close to power plants plus having a uniform crypto regulation, only then can the country be on its way to achieving some level of economic freedom.

In recent times, the Iranian government has taken a tough stance towards private crypto miners. The country had reportedly threatened to make examples out of these independent miners who were being accused of causing outages on the country’s national electricity supply. Interestingly, the Asian country has however chosen to step up its crypto mining activities as a means of income and also as a way of evading trading restrictions being imposed on it.

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