Iran's Bitcoin hashrate has plummeted 77% over the past quarter amid escalating conflict with the US and Israel, losing roughly 7 exahashes per second to just 2 EH/s according to Hashrate Index data.
Marketing director Ian Philpot from Luxor Technology noted the regional conflict clearly impacted Iran, though neighboring countries like UAE and Oman remained stable. The global hashrate holds at approximately 1,000 EH/s as no single region controls enough capacity to threaten network continuity.
The Middle East conflict intensified in February when US and Israeli forces launched strikes against Iran, triggering retaliatory actions from both sides before a two-week ceasefire was reached Tuesday.
Global Bitcoin hashrate declined 5.8% quarter-over-quarter from 1,066 EH/s to 1,004 EH/s, primarily due to Bitcoin's 45% price drop from its $126,000 peak in October. Older mining equipment operating at negative margins has been forced offline.
The US maintains the largest global hashrate share at 37%, followed by Russia at 17% and China at 12%. Mining profitability, not energy costs or regulation, drives current geographic hashrate shifts.