March 5, 2021

Iranian authorities will pay for the provision of information on illegal mining

Iranian authorities announced that they are ready to pay a fee for providing information on illegal mining in the country.

As the spokesman for the ministry notedMostafa Rajabi, anyone who talks about miners using subsidized electricity to mine cryptocurrencies, will receive up to 20% of the amount of the fine received for losses from power plants.

Rajabi explained that there is a certain time,when the national grid experiences peak loads. In total, it is approximately 300 hours per year. In such periods, miners are forbidden to connect to the system and load it even more. The rest of the time, the average cost of electricity is about $ 0.08 per kWh. Those who want to engage in the extraction of cryptocurrencies should be guided by this assessment.

At the same time, during eight months of moderate weather, the price will drop to $ 0.04 and rise to $ 0.16 in the remaining four hot months, when energy consumption in Iran increases significantly.

Subsidized electricity to minersuse prohibited. The campaign against illegal mining of cryptocurrencies began about three months ago. In the summer, the media already featured information about police raids on abandoned factories that were connected to the power grid at a reduced rate.

Rabjabi added that authorities welcome the creationnew power plants for cryptocurrency mining and will stimulate this direction. In addition, we recall that in July, the Iranian government equated mining with industries.

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