Iranian authorities will pay for providing information about illegal mining

Iranian authorities will pay for providing information about illegal mining

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

As noted by the press Secretary of the Ministry of energy, Mostafa 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 of power plants.

Rajabi explained that there are certain times when the national grid is experiencing peak loads. In total, this is about 300 hours per year. During 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. It is this assessment that those who want to engage in cryptocurrency mining should focus on.

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

Miners are not allowed to use subsidized electricity. The campaign against illegal mining of cryptocurrencies has begun
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.

Rajabi added that the government welcomes the establishment of new power plants for the mining of cryptocurrencies and will stimulate this area. In addition, we recall that in July, the government of Iran equated
mining to industries.