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Iran Loses 7 EH/s in a Quarter as Bitcoin Mining Power Shifts
Bitcoin (BTC) mining in Iran has experienced a dramatic decline of approximately 77% over the past quarter, resulting in the country's hashrate dropping to around 2 EH/s. This significant downturn coincides with escalating tensions between the United States and Israel on one side and Iran on the other, marked by airstrikes and retaliatory actions that have shaken the region.
A recent report from Hashrate Index revealed that Iran lost about 7 EH/s quarterly. While neighboring mining hubs like the United Arab Emirates and Oman remained stable, Iran's mining operations faced challenges. The country reportedly operates around 427,000 active mining rigs, but many older devices with an efficiency of over 25 J/TH have been shut down due to shrinking margins.
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"The broader network has absorbed the loss without interruptions, with the global hashrate remaining close to 1,000 EH/s," the report stated, emphasizing that Iran's withdrawal is a local event rather than a systemic threat.
Despite the challenges faced by Iranian miners, the United States continues to hold the largest share of the global hashrate. The report also noted that Bitcoin mining revenues are under pressure, with the 30-day simple moving average for the global hashrate declining from 1,066 EH/s in the first quarter to approximately 1,004 EH/s in the second quarter, a decrease of 5.8%.
Bitcoin's price has fallen by about 43% from its record high of around $126,000 reached in October 2025, pushing hashrate prices to record lows and forcing approximately 252 EH/s of marginal capacity offline, much of which is attributed to older hardware.
Mining power is known to shift in response to favorable electricity costs, better hardware, and higher margins. When these conditions disappear, rigs are either shut down or relocated, as reflected in the figures from Iran.
In summary, the Iranian Bitcoin mining sector is facing significant challenges due to geopolitical tensions and economic factors, leading to a substantial loss in hashrate. The global mining landscape remains resilient, with major players in the U.S., Russia, and China continuing to dominate.
Bitcoin Mining Revenues Under Pressure
Miners worldwide are increasingly feeling the pressure as Bitcoin prices continue to decline. The 30-day simple moving average for the global hashrate has dropped significantly, indicating a challenging environment for mining operations. The decline in hashrate is attributed to falling Bitcoin prices rather than energy costs or regulatory changes.
Bitcoin's price volatility has been notable, with fluctuations influenced by geopolitical developments. For instance, after BTC fell below $67,000 in early April, it rebounded to over $72,000 on April 8, following the announcement of a two-week ceasefire between the U.S. and Iran. This volatility underscores the ongoing impact of geopolitical factors on both mining conditions and market movements.
In conclusion, the current state of Bitcoin mining reflects a complex interplay of market dynamics and geopolitical influences, with miners facing significant challenges as they navigate this evolving landscape.
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