Chinese Bitcoin miners develop strong ties and crypto mining facilities in Iran. Lubian.com, a Chinese mining company , recently told financial columnist Vincent He that the firm runs one of Iran ‘s largest controlled farms.
Cofounder Liu Ping of Lubian clarified in depth that it has a collaboration with a power plant in Iran and that the investors are both Iranian and Chinese. Power companies in Iran are now permitted to house operations related to bitcoin mining.
Liu Ping said his firm has no clearance problems, unlike the Chinese miner Liu Feng who had a rough time coping with customs bringing ASIC mining rigs across the border.
“We have our own customs clearance channels as we have the experience of establishing the logistics company,” Liu Ping stated. “And we have good local resources in Iran, and we have maintained good relations with the Ministry of energy, the Ministry of foreign affairs, and even the army in Iran,” the miner added.
The Chinese miner also said the operation pays the power company in shares of bitcoin (BTC), as well as traditional means of payment.
“Compared with traditional industries, crypto mining is a profitable business,” Liu Ping concluded. “Apart from the mining pool business, at present, there is no other crypto financial service business conducted by Lubain.com. At present, their purpose is only mining and accumulating Bitcoin.”
[image: Arman Taherian]