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\n\t\t\t\t\t\t\t\t\tSome observers noted that even if Iran controlled 5% of global hashrate, the network would continue functioning without disruption.\t\t\t\t\t\t\t\t<\/p>\n<\/p><\/div>\n
Bitcoin mining in Iran is back in the spotlight after a viral X post on February 27 claimed the country runs a $1 billion operation that could be wiped out.<\/p>\n
The debate has split crypto observers, with some warning of a temporary hashrate shock and others dismissing the claims as exaggerated fear, uncertainty, and doubt (FUD).<\/p>\n
The discussion began when independent analyst Shanaka Anslem Perera posted<\/a> that Iran mines Bitcoin at a theoretical cost of $1,320 per BTC using heavily subsidized electricity and then selling it at the current price near $68,000 to extract what he described as a 50x gross margin.<\/p>\n He alleged that around 700,000 mining rigs consume roughly 2,000 megawatts daily, much of it tied to operations linked to the Islamic Revolutionary Guard Corps, or IRGC.<\/p>\n Perera tied the argument to sanctions, saying Bitcoin allows Iran to convert restricted energy resources into liquid capital beyond the reach of SWIFT prohibitions.<\/p>\n A January 16 report by Chainalysis found<\/a> that Iran\u2019s total crypto activity exceeded $7.78 billion in 2025. Furthermore, the report said addresses linked to IRGC facilitation networks received more than $3 billion last year, up from just over $2 billion in 2024, and that activity often spiked during military or political crises.<\/p>\n Nonetheless, critics quickly challenged the mining cost assumptions, with analyst Dasha calling<\/a> the $1,320 figure \u201c100% fake news,\u201d arguing it relies on household electricity rates that cannot be achieved in practice due to blackouts and shortages.<\/p>\n The objections did not stop there, as miner ZynxBTC dismissed<\/a> the concern entirely:<\/p>\n \u201cEven if Iran controlled 5% of global hashrate (it doesn\u2019t), and it went offline, the network would continue functioning normally.\u201d<\/p>\n<\/blockquote>\n Recent U.S. events support that argument. Earlier in the year, the network continued operating even after a severe winter storm forced<\/a> major Texas miners offline, pushing the hashrate down from 1.133 ZH\/s to 690 EH\/s in just a couple of days.<\/p>\n However, Perera argued that grid failure differs from voluntary shutdown. According to his analysis, with tensions brewing in the Middle East, a 7-to-10-day air campaign targeting Iranian military infrastructure would likely collapse electricity generation by an estimated 30% to 50%.<\/p>\n He insisted that mining rigs require continuous power, and even brief outages could destroy active operations. As such, he postulated that a strike on Iran\u2019s already fragile grid could see the country\u2019s estimated 2% to 5% share of the global hashrate drop to zero within days, triggering a difficulty adjustment that would extend block times and temporarily spike transaction fees. As\u00a0CryptoPotato\u00a0<\/em>reported<\/a>, the US and Israel have already launched strikes on Iran earlier today.<\/p>\n Still, others argued that the Bitcoin network has withstood even larger shocks, with researcher Furkan Yildirim noting<\/a> that China removed more than half of the global hashrate in 2021, yet the network soon adjusted as miners relocated.<\/p>\n \u201cAn Iranian grid failure would be a rounding error by comparison,\u201d he tweeted.<\/p>\n<\/blockquote>\n LIMITED OFFER for CryptoPotato readers at Bybit: Use this link<\/a> to register and open a $500 FREE position on any coin!<\/b><\/p>\n<\/div>\n<\/div>\nYou may also like:<\/h3>\n
Hashrate Shocks Are Not New<\/h2>\n
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