As a researcher with extensive experience in studying the intersection of technology and politics, I find myself deeply concerned about the ongoing situation in Iran regarding illegal crypto mining. Having worked in regions grappling with similar energy crises, I understand the strain such activities can put on already fragile power grids.
In response to persistent power outages affecting their electrical grid due to excessive crypto mining, Iran is now providing a $20 incentive for individuals who report these illegal operations.
In simple terms, Iran is currently providing a cash incentive of $20 to individuals who report instances of unlawful cryptocurrency mining within their communities. This measure comes in response to the country’s escalating energy problems, which have been intensified by power shortages caused by a prolonged heatwave and ongoing energy crisis.
Based on information from Iran International, Iranian officials have established a bounty of approximately $20 for tips leading to the discovery of illicit cryptocurrency mining devices. This action aims to lessen the effects of unchecked operations, which have been causing major disturbances in the country’s power grid.
The report indicates that Iran is currently enduring its most intense heatwave in half a century, causing numerous power failures and increased pressure on industrial activities. The chief of Iran’s national electricity company, Tavanir, Mostafa Rajabi Mashhadi, has emphasized that illegal mining operations are exacerbating the already stretched power grid.
Unscrupulous people are taking advantage of subsidized electricity and public infrastructure to illegally mine cryptocurrencies. This illegal activity is causing a spike in energy usage that’s putting undue strain on the nation’s power system, leading to numerous disruptions and issues within the grid.
Mostafa Rajabi Mashhadi
According to Mashhadi’s findings, over 230,000 unauthorized mining machines, using approximately 800 to 900 Megawatts (MW) of electricity each, have been discovered. He pointed out that the amount of electricity these devices consume is equivalent to that used by the Markazi Province. To compensate for this energy drain, a new power plant with a capacity of 1,300 MW would need to be built.
Beyond these actions, intelligence agencies from Iran have additionally focused on more than 9,000 accounts linked to approximately 454 people engaged in illegal commerce, according to the report, since the year 2022.
In early May, senators Elizabeth Warren and Angus King proposed a thorough examination into suspected links between Iranian cryptocurrency mining and circumventing U.S. economic sanctions. They claim that the mined digital currencies could be utilized to dodge sanctions, finance terrorist organizations such as Hezbollah, and support Iran’s military activities.
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2024-08-14 13:18