[Analysis Suggests Limited Impact of Iran War Oil Shock on Bitcoin Miners] On March 13, Hashrate Index under Luxor Technology analyzed that the oil price shock caused by the Iran war primarily affects Bitcoin miners through Bitcoin price fluctuations rather than rising energy costs. Data shows that approximately 90% of global Bitcoin hash power operates in countries where electricity prices have very low correlation with crude oil prices. Major mining countries such as the United States, Russia, and China mostly rely on natural gas, coal, or hydropower, with only about 8% to 10% of hash power directly affected by oil prices. The analysis suggests that rising oil prices may increase inflation expectations and influence interest rate trends, thereby suppressing Bitcoin prices and putting pressure on miners' hash rate revenue.