Iran Offers $20 Reward to Report Illegal Crypto Miners Amid Power Crisis
Iran is offering a $20 reward to citizens who report unauthorized cryptocurrency miners as the country deals with power shortages and a severe heatwave.
The state power company, Tavanir, has linked illegal mining operations and a record 49.7°C (121°F) heat to widespread electricity disruptions.
Tavanir’s CEO, Mostafa Rajabi Mashhadi, revealed that illegal miners are exploiting subsidized power, prompting the reward initiative to encourage public reporting.
The surge in illegal mining has been exacerbating frequent power outages, impacting industrial productivity. Tavanir has found over 230,000 illegal mining devices, consuming as much electricity as a major power plant.
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Canadian Crypto Exchange Exec Allegedly Embezzled $9.5 Million for GamblingThis crackdown mirrors similar actions globally. Paraguay recently closed 70 illicit Bitcoin mines, and Malaysia reported significant electricity theft by unauthorized miners.
Iran had previously banned cryptocurrency mining in 2021 due to power issues but reinstated it after facing US sanctions.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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