February 22, 2024

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 generousA reward for 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.

According to the new rules, it is forbidden to mine cryptocurrency in the country 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 isa fixed amount of 9,650 rials ($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.

The introduction of new regulations in Iran's crypto sector has been followed by a major crackdown on unauthorized cryptocurrency mining.Iranian law enforcement officers conducted raids in the summer and found illegal data centers connected to the power grid at a reduced rate.