Iran’s state power company, Tavanir, is taking drastic measures to combat the surge in illegal cryptocurrency mining operations that are exacerbating the country’s ongoing power shortages and severe heatwaves. Citizens who expose these illegal miners will now be rewarded with a $20 bounty.
Tavanir’s CEO, Mostafa Rajabi Mashhadi, highlighted the issue, stating that opportunistic individuals are exploiting subsidized electricity and public networks to mine cryptocurrencies without authorization. This illegal activity, coupled with a record-breaking heatwave, is causing significant disruptions to the country’s electricity network.
To encourage public participation in the crackdown, Mashhadi announced a bounty of one million toman (approximately $23) for each unauthorized cryptocurrency mining equipment reported. The situation has reached a critical point, with Iran International reporting that frequent power outages are halting industrial production, further impacting the country’s economy.
Tavanir’s efforts have already led to the discovery of over 230,000 illegal cryptocurrency mining devices, whose electricity consumption is equivalent to that of the entire Markazi Province. Mashhadi emphasized the scale of the problem, stating that providing this amount of electricity would require the construction of a massive 1,300-megawatt power plant.
