Bitcoin mining hashrate has declined nearly 8% over the past week, marking the second-largest drop in the past five years. The Iran conflict is pushing up energy prices, squeezing miner margins. As noted in the early March tweet, Iran contributes 2–5% of Bitcoin’s hash rate, while the Middle East accounts for 7–10% of the global total (65–95 EH/s out of 920–960 EH/s), with the UAE ranking among the top globally. Rising energy costs and war-driven instability are forcing miners to shut down or curtail operations. The key variable is the duration of the Iran conflict, prolonged energy pressure would create a sustained headwind for mining, determining whether this is a short-term correction or a structural challenge.(BloFin Research)