1000 Of Crypto Mining Farms Were Shut Down By The Iranian Government

Iran is rewarding individuals who turn in crypto miners working without a permit.

Informants helped Tavanir, Iran’s capacity company, closed down 1100 crypto mining farms that were supposedly working without the best possible licenses.

Despite the fact that Tavanir says that a portion of the miners were utilizing “elevated levels” of subsidized electricity, their report explained that no noteworthy changes were seen regarding power utilization. Nearby specialists said this is the reason they needed to depend on informants, taking note of that Tavanir “can’t distinguish every unlawful ranch exclusively by considering their utilization patterns.”

People who provided information leading to the detection of unauthorized miners received 100 million rials ($480) for their cooperation, the Financial Tribune said.

Iran as of late reported that they will permit industrial scale power plants to work as Bitcoin miners — if they don’t utilize subsidized fuel.

The public law on crypto mining states that miners ought to reveal their characters and give detailed information to the Ministry of Industry, Mines, and Trade. This data incorporates the size of their mining farms and the kind of equipment they’re utilizing, and is gathered trying to forestall sneaking into the nation. Miners are defined as both individuals and companies.

Illegal crypto miners chance fines that run from $2,000-$5,000 for each bit of equipment utilized, and an extra fine of $20,000 for anybody found utilizing a sponsored power source.

Back in May, Iran’s Ministry of Industry, Mine, and Trade conceded miner, a cryptocurrency mining company , a permit to work in the country. With 6,000 apparatuses, miner’s arrangement gets one of the biggest crypto miners in Iran.

The Iranian government approved crypto currency mining as a modern movement in July 2019, and has since given more than 1,000 licenses to crypto mining companies.