Iranian Authorities Offer Rewards for Reporting Illegal Mining Activities
Main page News, Iran, Mining

The authorities of Iran are offering rewards for reporting any illegal mining activity in the country, PressTV has reported citing the statements by Mostafa Rajabi, spokesman for the country's Ministry of Energy.

He has said that anyone reporting people mining cryptocurrencies with subsidized electricity could receive up to 20% of the recovery of the damage inflicted on the power grid.

Rajabi has clarified crypto mining is prohibited in the country during peak hours (about 300 hours a year). The rest of the time, miners will be charged around 0.08 per kWh. However, this price will not be fixed. During the eight cold months of the year, the price will decrease to $ 0.04, while it will jump to $ 0.16 in the remaining four months, when electricity consumption rises significantly.

iHodl reported back in July that Iran had legalized crypto mining as an industrial activity.

Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.

Read also:
Please describe the error