Bitcoin
$ 32,115
Ethereum
$ 1,233.7
Litecoin
$ 137.51

Iran Government Offers Bounty for Exposure of Illegal Crypto Mining

The Iranian government has reportedly finalized power tariffs for cryptocurrency miners and is offering a bounty for exposing illegal mining operations in the country.

Join the fastest growing network on Telegram

Anyone who exposes cryptocurrency miners using subsidized electricity will be rewarded with up to 20% of the recovery of the damage caused to the national power grid, Mostafa Rajabi, a spokesman of Iran’s Energy Ministry, told local news agency IRIB News in an interview Wednesday.

Under Iran’s new regulations, mining cryptocurrencies off the national electricity grid are banned during peak hours of consumption in Iran, which span over 300 hours a year, Rajabi reportedly said.

In July, there were reports that the Economic Commission of Iran has finalized power tariffs for cryptocurrency miners, based on similar tariffs used for electricity exports. Using subsidized energy has previously put pressure on Iran’s national grid, causing a 7% increase in energy consumption in the country. Iranian authorities recently seized around 1,000 bitcoin mining machines from two former factories, following an increase in electricity consumption.

Related Posts

Leave a Reply

Newsletter

Subscribe To Newsletter

For updates and exclusive offers, enter your e-mail below.

Popular Posts

The NFL Is Leading the Pack in Cryptocurrency Adoption within Sports
January 23, 2021By
Speculations From the OCC Allowing Banks to Handle Stablecoin Payments
January 23, 2021By
Investors cry foul over ‘trickery’ in Status Research case
January 23, 2021By

Advertisement

Video Posts

In
Solving Gender Inequality Using Blockchain S2 (Ep2): A Blockchain Solution To Close The Gap
January 22, 20210
In
Africa Digital Finance Summit 2021
January 20, 20210

Crypto Stats


CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin32,115 0.75 % 3.04 % 12.70 %
Ethereum1,233.7 1.55 % 0.19 % 5.27 %
Tether1.000 0.18 % 0.21 % 0.01 %
Polkadot18.28 2.14 % 7.16 % 38.48 %
XRP0.2705 1.03 % 0.81 % 3.51 %
Cardano0.3458 2.01 % 0.83 % 14.28 %
Chainlink24.55 2.81 % 11.57 % 19.11 %
Litecoin137.51 1.60 % 0.77 % 4.43 %
Bitcoin Cash430.00 1.35 % 2.66 % 12.25 %
Binance Coin40.53 0.87 % 1.22 % 1.15 %