Bitcoin mining is undergoing significant changes in 2026, which at first glance appear linked to geopolitical tensions, but actually reveal deeper structural shifts. Iran has recorded the most dramatic decline, with hashrate falling by tens of percent in a single quarter. Nevertheless, the global network remains stable and confirms its resilience against localized outages.
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Iran Loses Power, Bitcoin Network Stays Stable
According to data from Hashrate Index, Iran experienced a performance decline of approximately 7 EH/s, with current levels hovering around 2 EH/s. This drop signals a significant restriction of mining activity in the country. Interestingly, however, the conflict between the USA, Israel, and Iran had no decisive impact on neighboring regions. Countries such as the United Arab Emirates and Oman have maintained a stable share of global hashrate, indicating that the network responds through power redistribution rather than systemic weakening.
On a global level, bitcoin hashrate holds around the 1,000 EH/s mark, confirming the robustness of the entire infrastructure. The decentralized nature of the network ensures that no single country has sufficient influence over its operation. Local outages thus primarily lead to a shift of mining to other regions, rather than threatening the entire system. Geographic diversification remains one of the key pillars of bitcoin’s stability.
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Bitcoin Price Squeezes Miners
The main factor behind the current hashrate decline, however, is not geopolitics but mining economics. Average power fell from approximately 1,066 EH/s to 1,004 EH/s, a decline of 5.8 percent. The primary reason is the drop in bitcoin’s price, which has fallen by more than 45 percent from its historical peak of around 126,000 dollars. This development significantly reduces miner profitability and forces them to optimize operations.
Lower profitability hits older and less efficient equipment the hardest, rendering them unprofitable. Estimates suggest that up to 252 EH/s of power may currently be offline. However, this process is a natural part of the mining cycle—gradual technology replacement and transition to more powerful hardware occur. The United States continues to hold the dominant position with more than 37 percent of global hashrate, followed by Russia and China, confirming the ongoing concentration of power among the largest players.
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