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>>Iran’s cryptocurrency mining industry suffers a severe blow as its hash rate plunges by almost 80%

Iran’s cryptocurrency mining industry suffers a severe blow as its hash rate plunges by almost 80%

crypthub

1 day ago

Hashrate Concentration

US, Russia and China jointly control more than 65% of global Bitcoin hashrate, keeping mining power heavily concentrated. Smaller markets rise and fall with local shocks, but the overall network remains robust.

Iran's Sharp Decline

Iran’s hashrate dropped about 77% in the last quarter, down to roughly 2 EH/s after months of conflict and strikes. It lost around 7 EH/s quarter‑on‑quarter, while nearby UAE and Oman stayed stable. The fall is a regional hit, not a systemic threat.

Global Network Resilience

Global hashrate hovered near 1,000 EH/s, letting the Bitcoin network operate without strain. When one region weakens, others absorb the load, preventing continuity risks.

Economic Pressure on Miners

The 30‑day moving average fell 5.8% to 1,004 EH/s as Bitcoin prices fell over 45% from the $126k peak. Lower revenue forced inefficient rigs (above 25 J/TH) offline, removing about 252 EH/s of marginal capacity. Mining shifts toward cheaper power and newer equipment.