Iran’s Bitcoin hashrate falls 77% over the past quarter amid conflict
The 30-day simple moving average of the global network hashrate has also declined, though an analyst says the slump is due to Bitcoin prices hurting mining profitability rather than conflict.
Iran’s hashrate has plummeted over the past quarter amid an ongoing conflict with the US and Israel, though the war itself has not dragged down global hashrate, according to a new report from Hashrate Index.
Iran has lost roughly 7 exahashes per second (EH/s) quarter-over-quarter, said Ian Philpot, marketing director at Luxor Technology, in a report published Monday. The country’s hashrate now sits at about 2 EH/s according to the Hashrate Index heatmap.
Philpot noted that while the regional conflict clearly impacted Iran, it could have triggered a ripple effect for neighboring countries such as the United Arab Emirates and Oman, yet so far, neither has been affected.
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