TEHRAN, Iran, July 27
Trend:
The power supply manager of cryptocurrency farms of Iran said unauthorized cryptocurrency farms exploited $4 million of the country's economic resources daily.
"The illegal cryptocurrency mining devices collected by the Ministry of Energy were creating wealth without creating any jobs and added value for the country and by abused the subsidies of energy carriers,” Mohammad Khodadadi Bohlouli said, Trend reports citing IRNA.
According to the law, he says that the use of any branch of electricity with a subsidized tariff, including the household, commercial, industrial and agricultural electricity to mine cryptocurrency is illegal.
Referring to the fact that natural gas is consumed at a subsidized price to generate electricity in the country's thermal power plants, he added that the amount of damages the illegal cryptocurrency miners imposed on the country is equal to $4 million per day.
Khodadadi stated that according to the law, all these violators whose devices have been seized are obliged to compensate the mentioned damages.