Iran hashrate drops 77% as Bitcoin miners retreat
Iran’s Bitcoin hashrate has fallen roughly 77% over the past quarter to about 2 EH/s, as conflict with the US and Israel disrupted local mining operations.
The country lost around 7 EH/s in hashrate during the period, although global network capacity remained resilient at करीब 1,000 EH/s as disruptions were contained regionally.
“The impact was contained to Iran; neighboring UAE and Oman remained stable. The global hashrate at ~1,000 EH/s persists because no single region has enough capacity to threaten network continuity. Regional disruptions redistribute hashrate rather than destroy it,”
Said Luxor Technology marketing director, Ian Philpot.
The broader global hashrate declined 5.8% quarter-on-quarter to about 1,004 EH/s, a move attributed primarily to falling Bitcoin prices rather than geopolitical tensions.
Bitcoin has dropped more than 45% from its $126,000 peak, pushing mining profitability lower and forcing less efficient machines offline.
Philpot said older-generation mining equipment is now operating at negative margins, with an estimated 252 EH/s of marginal capacity shut down as operators adjust to weaker economics.
The US remains the dominant mining hub with over 37% of global hashrate, followed by Russia and China, as the sector shifts towards more efficient hardware and cost-optimised regions.
At the time of reporting, Bitcoin price was $71,702.93.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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