Cryptocurrency miners in Iran illegally consumed electricity - Iranian Energy Ministry
BAKU, Azerbaijan, Jan.9
Cryptocurrency miners illegally consumed more than 300-megawatt electricity, said the Iranian Energy Ministry's Spokesman for Electricity Industry.
"The cheap electricity rate in the country was the reason that increased interest of cryptocurrency miners," said Mostafa Rajabi Mashhadi, Trend reports citing IRNA.
"The Bitcoin price has increased from $8,000 to more than $30,000 that increased the number of miners and volume of electricity consumption," he said.
Mashhadi went on to say the illegal electricity consumers would be identified and legally confronted. The mininig' centers that illegally consumed electricity and paying electricity fare that was not designated for cryptocurrency mining would be firmly confronted.
"In case of identifying illegal cryptocurrency miners' centers, their power circuit would be cut and individuals that violated the regulation would be charged and should pay compensations for damages inflicted on power network," he added.
"So far 24 cryptocurrency miners' centers have received permits to be active with more than 310-megawatt capacity. A total of 1,620 illegal centers were identified that consumed 250 megawatts. Individuals that report the illegal centers would be rewarded with 100 million rials (about $2,300)," he noted.