Iran Offers Rewards for Reporting Illegal Crypto Mining Amid Power Shortages

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Ruholamin Haqshanas is a contributing crypto writer for CryptoNews. He is a crypto and finance journalist with over four years of experience. Ruholamin has been featured in several high-profile crypto...

Iran is taking measures to combat illegal cryptocurrency mining as the nation grapples with power shortages exacerbated by a severe heatwave.

The government is offering financial incentives to citizens who report unauthorized crypto-mining activities, with rewards of up to 1 million toman (approximately $24) per tip, according to a report from Iran International.

The sweltering heat, with temperatures reaching as high as 113 degrees Fahrenheit (45 degrees Celsius), has put immense pressure on Iran’s power grid.

The heat in the southern cities of #Iran has reached over 45 degrees Celsius. Birds have sought refuge from the heat by bathing in the waters of the Persian Gulf. pic.twitter.com/KYZHqF6ygD

According to Mostafa Rajabi Mashhadi, CEO of the state-run electricity company Tavanir, the situation is worsened by illicit crypto-mining operations that exploit subsidized electricity and public networks without proper authorization.

“Unauthorized cryptocurrency mining has led to a significant surge in electricity consumption, causing major disruptions in the country’s power grid,” Mashhadi said.

He revealed that authorities have uncovered 230,000 illegal crypto-mining rigs, which collectively consumed up to 900 megawatts of power.

This level of consumption is comparable to that of an entire Iranian province with 1.4 million residents.

Illegal crypto-mining has become a pervasive issue in Iran, with many operations reportedly taking place in schools and mosques, where electricity is either free or heavily subsidized.

Iranian