As the country grapples with its worst heat wave in decades, the Iranian government has introduced an incentive program to crack down on illegal cryptocurrency mining operations that are straining the national power grid.
Iran Rewards Citizens For Reporting Crypto Mining To Curb Energy Use
Citizens can now earn up to one million rials (around $21) for reporting unauthorized crypto mining farms to authorities. The modest cash bonuses are aimed at encouraging tips from the public as mining has ballooned in popularity due to Iran’s inexpensive electricity.
However, the surge in mining rigs across the country is taxing Iran’s infrastructure during the current heat wave that has temperatures soaring above 45°C in some regions. State-owned power company Tavanir says over 230,000 illicit mining devices have been found so far, consuming an estimated 900 megawatts of power – equivalent to an entire province’s usage.
Tavanir CEO Mostafa Rajabi Mashhadi warned that sustaining mining’s growing energy demand would require building new power plants capable of producing 1,300 megawatts, a costly endeavor as Iran battles electricity blackouts.
With the incentives program, officials hope to curb unlawful mining activity more aggressively and prioritize providing energy to residential areas coping with the extremes of the heat wave. For citizens struggling with rising costs of living, reporting mining farms for the cash bonus also presents an opportunity to earn much-needed income.
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