Unconventional pricing for mining electricity leads to the continuation of underground activities

The Iran Bloc Association of Iran issued a statement yesterday criticizing the way digital currency is mined and setting unconventional rates for the industry’s energy needs.

According to Arzdigital, the statement of the China Bloc Association states:

For three years now, setting tariffs for the extraction of ciphers, equivalent to 70% of the average export for gas and export rates for electricity, has led to a lack of private sector investment (while announcing full readiness) in the country’s energy conversion infrastructure. The country has become in the dimensions of energy economy and digital economy, which we still see the same view by resorting to completely false reasons and vulnerable justifications.

The China Blockchain Association of Iran said in a statement, referring to the electricity consumption tariff of the mining industry:

We suggest that in order to prevent the departure of businesses and specialized human resources from the country and the non-preservation of Iranians’ digital assets in foreign businesses, laws should be adjusted in such a way as to have a facilitator and a development perspective. We emphasize that setting non-expert rates for energy carriers in such a way as to provide the cost price of electricity above 4 cents ($ 0.04) for this industry will be nothing but backwardness and continuation of underground mining for the country.

In the final part of its statement, the China Bloc Association called on government officials to change their approach to the country’s mining industry and to create the conditions for using the capacities of this sector.

See the full text of the statement of the Iranian China Bloc Association through this link.