When the explosion of a US airstrike on Iranian nuclear facilities occurred, the global Bitcoin network suddenly "stopped its heartbeat".
Written by: Nicky, Foresight News
In the early morning of June 21, the "Midnight Hammer" airstrike by the United States on three Iranian nuclear facilities in Fordow, Natanz, and Isfahan shook not only the Middle East geopolitical landscape. At the same time, the global Bitcoin network's average hash rate suddenly plummeted from around 1000 EH/s (billions of hash calculations per second) to below 650 EH/s. This seemingly unrelated digital fluctuation instantly sparked speculation: "Could Iran's Bitcoin mining farms be hidden in the foundations of these nuclear facilities?"
Although Alex Thorn, the director of blockchain analysis firm Galaxy Research, quickly clarified that "the specific reason for the sudden drop in hash rate still needs more data verification and cannot be directly linked to the airstrike," this coincidence still tore open the mysterious veil of Iran's underground Bitcoin mining industry. This long-sanctioned country is pushing the game of energy and digital finance to a climax in an extreme way.
[The rest of the translation follows the same professional and accurate approach, maintaining the original structure and meaning while translating into English.]For the global cryptocurrency market, Iran's case is a mirror. When countries discuss "cryptocurrency energy consumption," they often focus on Bitcoin's environmental controversy, easily overlooking: In the crevice of sanctions and poverty, cryptocurrency may mutate into a "tool for plundering public resources". Iran's 2 GW illegal mining farms not only devour electricity that could have been used for people's livelihood but also transform the national power grid into a "cash machine for a few".
Conclusion
The computing power fluctuations triggered by airstrikes will eventually subside, but Iran's Bitcoin dilemma is far from over. Beneath the surface of this theocratic country, a computing power revolution is underway in the darkness. Bitcoin mining has become a lifeline for ordinary people to break through financial blockades and has also degenerated into a tool for privileged groups to seize wealth. When the shock waves of nuclear facility attacks reach the Bitcoin network, what we glimpse is not only the fragility of Iran's energy system but also a crypto survival path opened between sanctions and survival.
References:
https://www.ncr-iran.org/en/publications/special-reports/bitcoin-mining-in-iran-irgc-operations-and-the-power-grid-crisis/?amp=1
https://blockspace.media/insight/inside-irans-thriving-underground-bitcoin-mining-scene/
