Amid the escalating conflict in Iran, industry experts have stated that the situation is unlikely to significantly impact global Bitcoin mining, despite rumors suggesting a potential collapse in hashrate and massive BTC sell-offs. Analysts, including Wolfie Zhao from TheMinerMag, noted that Iran’s contribution to Bitcoin mining is minimal, estimated at below 1% of the global hashrate, and that any disruptions from power outages would not affect Bitcoin’s network stability or block times. This comes as outflows from Iranian exchanges surged by 700% following recent U.S.-Israeli airstrikes, indicating the correlation between the political climate and crypto activity in Iran, which has faced structural challenges in its mining industry since legalizing the practice in 2019.
Experts say Iran conflict poses minimal risk to Bitcoin mining hashrate
