@BOMBERuss 16 May 2021 more from that month

Iran to fine for using household electricity for mining. The problem of using electricity when mining cryptocurrencies is an edge for many states. Iran has decided to tighten regulation on this issue. Now, residents who use household electricity to mine digital coins will face penalties. This was reported by the representative of the Ministry of Energy of Iran, Mostafa Rajabi Mashhadi. Paying a fine is not the only punishment that unscrupulous miners will suffer. Since unauthorized mining of cryptocurrencies causes problems with the electricity supply due to the damage it causes to the local power grid and transformers, they will also be required to pay compensation fees for this damage. Official reports from Iran's energy companies show that if the current rate of cryptocurrency mining is maintained, significant problems can begin on the network. The damage will result in network failures and power outages. For the first time, the mining of digital coins as an industrial activity was approved by the Iranian government in 2019. After that, the number of people willing to mine cryptocurrencies with the help of cheap electricity in the country increased many times. In 2020, the state authorities gave the go-ahead for independent mining of cryptocurrencies by power plants. The decision was based on the fact that it can bring the country profit. The government also took into account that some power plants specifically offered their excess electricity to cryptominers. #Cryptocurrency