Iran Offers $24 Bounty for Reporting Illegal Crypto Mining Amid Power Strain

Iran government is offering $24 rewards to citizens who report unauthorized crypto mining operations as the country struggles with power shortages exacerbated by a heatwave.
As Iran battles severe power shortages during an intense heatwave, the government has introduced a novel incentive to curb illegal cryptocurrency mining. Mostafa Rajabi Mashhadi, CEO of Iran state-run electricity company Tavanir, announced that citizens could earn a bounty of 1 million toman, approximately $24, for reporting unauthorized crypto mining activities. This move comes as the country faces electricity shortages, with temperatures reaching up to 113 degrees Fahrenheit (45 degrees Celsius) in some areas.

According to Mashhadi, illegal crypto mining operations have exploited the country’s subsidized electricity, significantly straining the power grid. Tavanir has already identified and shut down 230,000 illegal mining rigs, which were consuming up to 900 megawatts of power—equivalent to the energy consumption of a province with 1.4 million residents.

These unauthorized operations are often found in locations like schools and mosques, which benefit from free or heavily subsidized electricity. The crackdown on illegal mining comes as other countries, such as Venezuela, have also taken steps to limit crypto mining to protect their power infrastructure. The Iranian government’s strategy of offering financial rewards for reports of illegal activity reflects the severity of the energy crisis and the lengths to which authorities are willing to go to address it.

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