Iran Increases Penalties for Using Subsidized Electricity for Crypto Mining

The Iranian government wants to introduce higher penalties for miners who use subsidized electricity to mine cryptocurrencies. Iran is thus striking the next blow against the domestic mining industry, which is said to be largely responsible for the widespread power outages and energy shortages in the country.

The government wants to drastically increase penalties for miners who use subsidized electricity, the Tehran Times reports on April 16, citing the country's largest electricity company. Mohammad Khodadadi Bohlouli, spokesman for the electricity provider, explains:

"Any use of subsidized electricity - intended for private households, manufacturing industry, agriculture and service providers - for mining cryptocurrencies is prohibited."

According to Bohlouli, fines for using subsidized energy will increase by a minimum of three times and a maximum of five times. Repeated violations could lead to the revocation of the operating license or even imprisonment for those responsible.

Operating crypto mining in Iran has required special permits since 2019. By January 2020, the Iranian Ministry of Economy had already issued more than 1,000 such licenses. With the country's power grid being particularly hard hit by extreme weather conditions such as prolonged dry spells last year, President Hasan Rouhani issued a temporary ban on crypto mining in May 2021 . After the ban was lifted in September , it was re - enacted in December .

As Mostafa Rajabi Mashhadi, a spokesman for Iran's Energy Ministry, explained at the time, the illegitimate use of subsidized electricity for crypto mining only adds to the problems in ensuring Iran's population has enough electricity.

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