09.04.2026 04:00
The United States, Russia and China together command more than 65 % of the world’s Bitcoin hashing power, underscoring how concentrated mining remains even as regional disruptions cause smaller markets to swing dramatically.
Iran, however, has been a stark outlier. In the last three months the country’s contribution to the network fell by roughly 77 %, leaving it with an estimated 2 exahash per second (EH/s). The decline follows months of conflict and operational instability that have battered the nation’s mining sector.
According to data from Hashrate Index, Iran shed about 7 EH/s quarter‑on‑quarter—a loss that coincided with heightened tensions involving the United States and Israel, where strikes and retaliatory actions have further unsettled the region. By contrast, neighboring mining hubs such as the United Arab Emirates and Oman have largely maintained stable output, suggesting the setback is confined to Iran rather than indicative of a broader regional collapse.
The report framed the contraction as a localized shock, not a systemic threat. Global Bitcoin hashrate continues to hover near the 1,000 EH/s mark, meaning the network remains resilient with no single jurisdiction wielding enough power to jeopardize its continuity. When one area weakens, others simply absorb the workload.
Iran’s mining operation is still sizable, with an estimated 427,000 active rigs. These devices vary widely in efficiency, and tighter profit margins have forced many older, less efficient machines—especially those consuming more than 25 joules per terahash—to shut down.
The entire Bitcoin ecosystem is feeling the pressure of a prolonged price slump. Over the past 30 days the simple moving average of global hashrate slipped from 1,066 EH/s in Q1 to about 1,004 EH/s in Q2, a 5.8 % decline. Analysts attribute this dip primarily to Bitcoin’s price tumbling more than 45 % from its all‑time high of $126,000 in October, rather than to rising energy costs or regulatory crackdowns.
Falling prices have squeezed mining revenues and driven hash‑price levels to historic lows. At such rates, older equipment that operates above 25 J/TH becomes unprofitable, prompting operators to power down or retire those units. The study estimates roughly 252 EH/s of marginal capacity has already been taken offline, most of it tied to outdated hardware.
The narrative the numbers reveal is straightforward: mining activity is fluid, constantly shifting toward locations with cheaper electricity, newer technology and healthier margins. When those incentives erode, miners either switch off their rigs or relocate them. Iran’s sharp contraction illustrates this dynamic, while the broader network continues to adapt and maintain stability.
