💥 2026's episode of the Iran Conflict has officially begun, and while the safety of innocent civilians should be everyone's top priority, crypto markets have had to weigh a number of conflicting impacts. ⛏️ Iran contributes 2-5% of Bitcoin's hashrate through state-subsidized farming operations and 425,000+ "underground" mining devices, the use of which consumes the equivalent of several provinces worth of electricity demand. ⚡️ The strain upon its failing grid has pushed the Iranian government to seize 250,000+ rigs, impose strict fines on their unapproved usage and shutdown licensed operators during periods of peak demand. 🏦 Through sanctioned operations and the forced sale of mining proceeds to the Central Bank of Iran, the state has accumulated a crypto war-chest of around USD $4B-5.5B, vital for war financing, capital flight defence and sanction evasion. 📊 Iran's civilian population holds another USD $4B-4.5B in cryptocurrency, thus while this weekend's events may reignite a safe haven-style bid for digital assets, the potential for hashrate disruption and emergency liquidation could temper expectations.(BloFin Research)