Iranian authorities shut down over 1,000 mining farms on tips from informants

Iranian electricity generation, distribution and transmission company Tavanir said that thanks to informants, it was possible to identify and close already 1,100 underground mining farms..

Since it is difficult for the authorities to independently determine which business entities use subsidized electricity, a reward was announced at the end of last year for information about illegal mining of cryptocurrency. For exposing «resourceful» entrepreneurs pay about $ 480.

The cooperation program started in November last year after Iran raised tariffs for miners and banned working during peak consumption hours..

Iranian authorities shut down over 1,000 mining farms on tips from informants

Local laws oblige all individuals and legal entities to report the type and number of devices used for mining. For their violation, a fine from $ 2,000 to $ 5,000 is provided for each piece of equipment and $ 20 thousand for the use of subsidized electricity for other purposes.

After the government recognized mining as a legal industry, the country issued more than 1,000 licenses to organize business in this area, and in May 2020, President Hassan Rouhani instructed representatives of the central bank and the Ministry of Energy to develop a plan for the development of the industry..

Iranian authorities shut down more than 1,000 mining farms on tips from informants

text: Ivan Malichenko, photo: SBS

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