March 5, 2021

Iranian authorities will pay for the denunciation of illegal mining

Iranian authorities will pay for the denunciation of illegal mining

Iranian authorities seek to curb illegal mining activities and offer generous compensation to anyone who exposes the illegal use of electricity for cryptocurrency mining in the country.

Iranian miners must pay the real cost of electricity, not the $ 1 billion government subsidy for residents.

Energy Ministry spokesman called forexpose illegal crypto miners who use subsidized electricity. Anyone who reports “criminals” will receive up to 20% of the compensation for damage caused to the national power grid.

Under the new rules, mine cryptocurrency in the countryprohibited during peak hours of electricity consumption by the population. At other times of the year, the price for miners is equal to the export price, and is a fixed amount of 9,650 riyals ($ 0.08) for each kilowatt hour.

He stressed that this price will be halved in the cool months and quadrupled in the hot months, when there is a significant increase in electricity consumption.

For the introduction of new rules in the crypto sector of IranMajor reprisals followed regarding unauthorized cryptocurrency mining. The country constantly regulates crypto mining after its legalization. Iranian law enforcement officials conducted raids in the summer and discovered illegal data centers connected to the grid at a reduced rate.