April 17, 2021

Iran announces reward for illegal mining information

Iran announces reward for illegal mining information

Iranian authorities will pay a monetary reward to anyone who provides useful information about the illegal mining of cryptocurrency in the country.

The Ministry of Energy announced this program.Iran during the presentation of new electricity tariffs for miners. In addition to raising the average price to the export level ($ 0.29 per kW), miners were banned from working during peak hours of energy consumption.

The press service also explained that people who will expose cryptocurrency mining activities in which it is illegal subsidized electricity is used, they can count on remuneration in the amount of up to 20% of the amount of damages.

In addition, the prices for miners will be veryvary greatly depending on the season. For example, in the cold months it will be half the average level, and in the warm months it will be four times higher, due to increased energy consumption in hot weather.

However, Iran’s authorities are not only increasing pressure,but also offer to take advantage of the legalization of the business. In September, the country's national tax administration invited miners to take advantage of tax holidays and tax exemptions for the repatriation of foreign savings.

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