Crypto mining industry: $8.5 billion booster to Iran’s economy

Amir Hossein Saeedi Naeini, an official with Iran’s ICT Guild Organization, reports that the crypto mining industry can boost Iran’s economy by $8.5 billion. He recommended lowering the electricity rate to support the crypto mining industry further and increase net revenues. The countries’ Ministry of Industries, Mining, and Trade also issued over 1000 licenses for cryptocurrency mining units. Iran authorities believe that reducing the electricity price rate will help improve the mining industry and generate more revenue. This is because many large crypto mining facilities operate throughout Iran, but small mining firms find it hard to thrive and are forced