Iran has issued over 1,000 cryptocurrency mining licenses

Iranian ICT Association official Amir Hossein Saeedi Naeini revealed in an interview that the Ministry of Industry, Mining and Trade has issued more than 1,000 cryptocurrency mining licenses in the country. The official also stated that research shows that crypto mining has the potential to add US $ 8.5 billion to the Iranian economy; although many large and industrial mines have been established, electricity bills are a major challenge for Iranian crypto miners. The industry is less attractive to small investors. The operating conditions of the industry should not allow only big capitalists to enter the cryptocurrency mining market, and all miners can operate. He emphasized that changes to electricity prices and crypto terms could boost the crypto mining industry and generate more revenue.