Iranian Power Utility Tavanir Vows Severe Measures Against Unlicensed Crypto Miners

Iran’s state-owned powerfulness organisation company, Tavanir, has threatened harsher measures to discourage unauthorized crypto mining. These see overmuch higher fines for those minting integer currencies with subsidized energy and penalties for authorities officials progressive successful mining.

Tavanir Raises Fines for Illegal Cryptocurrency Mining

The Iran Power Generation, Transmission and Distribution Company (Tavanir) has adopted new, much terrible measures to forestall crypto mining extracurricular the law. The utility’s spokesperson Mostafa Rajabi Mashhadi announced that fines for amerciable activities successful the assemblage person been accrued by 400%. Quoted by the English-language Iranian variation Financial Tribune, helium elaborated:

Unlicensed crypto miners indispensable wage their energy bills astatine rates 4 times higher than export rates that are already higher than the subsidized tariffs for households.

Mashhadi besides said that first-time offenders volition beryllium denied entree to subsidized energy, including electricity, earthy state and liquid fuels, for a play of 3 months aft they are identified. And those that are caught again volition beryllium chopped disconnected from proviso for a afloat year, the authoritative added successful a connection published connected the website of the Iranian Ministry of Energy.

If crypto mining is detected astatine facilities owned by state-run organizations oregon nationalist institutions, those liable volition look penalties nether the instrumentality and volition beryllium suspended from their authorities jobs successful the Islamic Republic, the study besides revealed.

Just similar past year, the authorities successful Tehran has decided to restrict crypto mining, expecting the powerfulness shortage to summation during the blistery months of the twelvemonth erstwhile depletion for cooling rises. In June, Tavanir ordered licensed miners to halt operations until the extremity of this summer. The seasonal prohibition sparked negative reactions from the section crypto community.

In 2021, energy shortages and predominant blackouts were partially blamed connected the accrued powerfulness usage for mining — some ineligible and amerciable — and past May licensed miners were ordered to shut down. They were allowed to resume operations successful September, but past again told to unplug their hardware arsenic the acold wintertime months accrued request for heating.

Iran legalized cryptocurrency mining arsenic an concern enactment successful July 2019. Since then, dozens of companies person applied for a licence from the Ministry of Industry and started minting coins with the low-cost vigor offered by Iranian powerfulness plants.

However, arsenic the energy sold to households is overmuch cheaper, galore Iranians person acceptable up improvised mining installations, expanding the load for the powerfulness procreation industry. Iranian authorities person been going aft these miners and, according to a study published successful May, busted astir 7,000 underground crypto farms.

Do you expect Iranian authorities to proceed to ace down connected cryptocurrency mining? Tell america successful the comments conception below.