Iran is currently estimated to account for approximately 2–5% of the global Bitcoin network's total hashrate, making it one of the countries with significant influence on cryptocurrency mining operations amidst a complex geopolitical landscape. If regional conflicts continue and put pressure on energy infrastructure, Bitcoin mining output in the country could decline in the short term due to power grid disruptions.
Since July 2019, the Iranian government has officially recognized and legalized cryptocurrency mining, treating it as an industry. This decision paved the way for numerous businesses to participate in Bitcoin mining, taking advantage of the country's low-cost electricity. However, despite the licensing of mining, the use of cryptocurrencies as a means of domestic payment remains tightly controlled to protect the value of the Rial (IRR) and limit the dollarization of the economy.
In recent years, numerous independent reports have estimated that Iran contributes between 2–5% of the total global Bitcoin mining power. However, because a large portion of this activity takes place outside the official licensing system, the actual figure could be significantly higher or lower. In particular, when electricity prices fluctuate or governments tighten electricity consumption controls during peak seasons, Bitcoin mining farms are often ordered to temporarily cease operations.
According to several sources cited by CoinDesk , the cost of mining one Bitcoin in Iran was once estimated at only around $1,300 thanks to energy subsidies. This low cost resulted in a large profit margin when sold at international market prices. However, this cost advantage could be eroded if the electricity supply is disrupted due to conflict or due to energy allocation policies prioritizing residential needs.
Beyond just mining, the cryptocurrency market in Iran is also growing significantly. A report by Chainalysis indicates that Iran's cryptocurrency ecosystem is expected to reach approximately $7.78 billion in 2025, an increase of around $380 million compared to 2024. This reflects the demand for hedging against exchange rate risks and the search for alternative store of value amidst the sharp depreciation of the Iranian RMB.
Notably, on-chain analytics data shows that wallet addresses linked to the Islamic Revolutionary Guard Corps (IRGC) account for over 50% of Iran's total cryptocurrency inflows in Q4 2025. Capital into IRGC-related addresses are projected to reach approximately $2 billion in 2024 and exceed $3 billion in 2025. However, according to Chainalysis, the actual scale could be even larger due to limitations in tracing cross- chain transactions or the use of advanced anonymity tools.
Another notable development is Elliptic 's January 2026 report stating that the Central Bank of Iran (CBI) has implemented a strategy of "systematically accumulating" at least $507 million worth of Tether (USDT) stablecoins in 2025. This move is believed to have two main objectives.
