Iran's Ministry of Energy has just announced it plans to fine crypto miners who use electricity for domestic use in their activity, local publication Tehran Times has reported citing the ministry spokesman Mostafa Rajabi Mashhadi.
According to the country's officials, the energy sector is facing two major challenges this year: a decrease in power generation caused by droughts and crypto mining.
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Mashhadi claims the activity of crypto miners wears down power grids and transformers, which increases the chances of power outages. In addition to fines, violators may also have to compensate for the damage caused to the infrastructure by their activities.
According to TV channel Iran International, miners in the country consume up to 1,500 MW of electricity per day, while legal companies account for 13% of consumption.
In July 2019, Iran recognized crypto mining as an industrial activity.