Official reports from the Iranian government or relevant authorities

Iran Offers $20-$24 Bounties to Combat Illegal Crypto Mining Amid Power Crisis

Aug 15, 2024, 06:07 AM

Iran is offering financial incentives to combat illegal cryptocurrency mining activities, which are reportedly disrupting the country's electricity network. Amid severe power shortages exacerbated by a historic heatwave, the Iranian government has initiated a program offering bounties for information on illegal crypto miners. The rewards for reporting such activities range from $20 to $24. This initiative aims to alleviate the strain on the power grid caused by the exploitation of subsidized electricity for crypto mining, which is affecting industrial production.