The boss of Iran’s state-run electricity company said some had exploited subsidized electricity to run crypto mining operations, straining the power grid.
Iran is reportedly handing out upward of $20 to anyone who alerts authorities to illegal crypto mining operations as the country faces power shortages amid a severe heatwave.
Temperatures have soared to 113 degrees farenheit (45 degrees celsius) in parts of the country, straining the grid, which the CEO of the country’s state-run electricity company Tavanir claims is made worse by crypto miners, the Iran-focused news outlet Iran International reported on Aug. 13.
“A bounty of 1 million toman will be awarded to individuals who report every single unauthorized cryptocurrency mining equipment,” Tavanir CEO Mostafa Rajabi Mashhadi said. One million toman is worth roughly $24 at the current exchange rate.
