The Iranian Ministry of Energy plans to fine miners who illegally consume electricity intended for domestic use. Tehran Times reports, citing the ministry’s spokesperson Mostafa Rajabi Mashhadi [Mostafa Rajabi Mashhadi].
The ministry stressed that in 2021 the sector faced two problems: drought-induced reductions in hydroelectric generation and cryptocurrency mining.
According to Mashhadi, miners’ activities wear out electrical grids and transformers, creating risks of power outages. Offenders face not only fines but also compensation for damage to infrastructure.
According to Iran International, Iranian miners consume up to 1,500 MW of electricity daily. Licensed companies account for only 13% of consumption.
As previously reported, in July 2019 Iran recognised cryptocurrency mining as an industrial activity.
In January 2021, authorities closed 1,620 illegal mining centers, which in total consumed 250 MW of capacity.
In April, the Central Bank of Iran allowed banks and other licensed financial institutions to pay for imports with cryptocurrency mined domestically.
Later the regulator confirmed a ban on transactions involving digital assets obtained by miners abroad.