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U.S. and Israeli strikes cut Iran Bitcoin hashrate 77% in Q2
Iran’s Bitcoin hashrate collapsed ~77% in Q2, dropping from ~9 EH/s to ~2 EH/s after U.S. and Israeli strikes disrupted power infrastructure. About 427,000 miners went offline, per a Hashrate Index report by Luxor’s Ian Philpot. Global hashrate held near ~1,000 EH/s.
The hit is local, not network-wide. Hashrate redistributed to other regions, preserving security and uptime, according to Hashrate Index.
- Iran’s Bitcoin hashrate fell ~7 EH/s QoQ to ~2 EH/s. The sharpest regional drop since China’s 2021 ban, per Hashrate Index.
- Impact remained inside Iran. UAE and Oman stayed stable, Philpot wrote in the report.
- The 7 EH/s loss is under 0.7% of pre-conflict network capacity. Global hashrate hovered near ~1,000 EH/s, per Hashrate Index.
- Difficulty’s 2,016-block adjustment window offsets such volumes without material timing drift, the report noted.
- More meaningful trend: the 30‑day SMA of global hashrate dipped from ~1,066 EH/s in Q1 to ~1,004 EH/s in Q2, down ~5.8%, driven mainly by miner profitability pressures, per Hashrate Index.
Iran’s mining model leaned on subsidized power and sanctions-era incentives. That cost edge vanished when grid stability faltered, as detailed by Coinspeaker’s prior coverage and the new Hashrate Index report.
Source: Hashrate Index
