Financial Tribune - The Ministry of Industries, Mining and Trade has issued 1,000 plus licenses for cryptocurrency mining units so far, an official with Iran’s ICT Guild Organization said.

A limited number of authorized mining farms currently are active across the country.

"Our studies show that the crypto mining industry has the potential to add $8.5 billion to the economy…but high electricity tariffs plus stringent regulations have made the sector less appealing for small investors," Amir Hossein Saiedi was quoted as saying by IBENA.