It turns out that Bitcoin is really supporting Iran's missiles On June 21st, the United States bombed Iran's nuclear facilities BTC hash rate drops by 25% within 24 hours It's not a coincidence, the entire mining site experienced a power outage 1/ Iran is not mining It's printing foreign exchange Electricity prices are almost free, BTC is mined out and sold to the central bank Electricity to BTC, BTC to USD 2/ One BTC costs $5000 Market price of $100000 Profit 20 times It's not individual investors digging, it's the national team digging 3/ Who is digging Revolutionary Guard Religious Foundation Official Telegraph Company The military's self built power plant and self operated power grid are responsible for their own profits and losses Direct on chain settlement without connecting to State Grid 4/ 180000 online mining machines in Iran by 2023 100000 units are included in the system Electricity consumption ≈ two nuclear power plants If there is not enough electricity, the civilian mining site will never be disconnected 5/ Where will the mined BTC go Exchange dollars to buy equipment for military expenses and support black market exchange rates Can use, can exchange, can walk Much more useful than their local currency 6/ In 2020, Iran burned 10 million barrels of oil to mine BTC Equivalent to 4% of the annual oil exports This is not an energy consumption issue It's about turning oil into BTC and exporting it 7/ This is not a faith It's a geopolitical reality Other countries use BTC to combat inflation They use BTC to support their regime 8/ Hash rate cliff is not a market signal It's a power outage at a mining site in a country War information on the chain is faster than news 9/ Cherish your BTC It has become the last liquidity tool for some countries