Data: Iran's Bitcoin Hashrate Plummets 77% in One Quarter

On April 8, according to the latest report from Hashrate Index, Iran’s Bitcoin hashrate has significantly dropped in the past quarter amid ongoing conflicts with the United States and Israel. However, this war has not affected the global hashrate. Ian Filpot, Marketing Director at Luxor Technology, stated in a report released on Monday that Iran’s Bitcoin hashrate decreased by approximately 7 EH/s (exahashes per second) quarter-over-quarter. The Hashrate Index heatmap indicates that the country’s current hashrate is only about 2 EH/s. Filpot pointed out that although the regional conflict has clearly impacted Iran’s hashrate, it could have had a ripple effect on neighboring countries such as the UAE and Oman, but so far, these countries have not been affected. He stated, ‘The impact is limited to within Iran; the hashrate in neighboring countries like the UAE and Oman remains stable. The global hashrate is still around 1000 EH/s, as no single region’s hashrate is large enough to threaten the ongoing operation of the Bitcoin network. Regional hashrate disruptions will only lead to a redistribution of hashrate, not a complete disappearance.’ Since the U.S. and Israel launched strikes against Iran in February, conflicts in the Middle East have escalated, with both sides engaging in retaliatory attacks. On Tuesday, the U.S. and Iran reached a two-week ceasefire agreement. It is estimated that Iran currently has 427,000 active Bitcoin mining machines.