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EghtesadOnline: The government is working on a new bill, based on which those who use electricity for cryptomining without holding a valid license will have to pay fines five times higher than the electricity export tariff.

Iran’s Energy Ministry has required owners of cryptomining hardware to register data related to themselves as well as the location of their devices in the Comprehensive Trade System of the Ministry of Industries, Mining and Trade.

Mohammad Khodadadi, an official with the Iran Power Generation, Transmission and Distribution Company (Tavanir), made the announcement and noted that the measure is aimed at preventing the use of legally imported hardware from being used in unlicensed cryptomining centers, Way2pay reported.

“Mining centers will be inspected randomly in order to increase the transparency of authorized miners’ operations and make sure that the registered data are valid,” he added.

Khodadadi noted that failing to register miners’ locations or changing the location without reporting it in the system is considered a violation of rules and offenders will be fined.

Cryptomining cryptomining farms