Iran has been engaged in crypto mining and trading out of necessity due to major global sanctions and severe inflation that has been ongoing since at least 2019. However, experts told Decrypt that estimating its holdings remains nearly impossible.



The Cambridge Centre for Alternative Finance estimates that the country accounted for 7.5% of the Bitcoin hash rate in March 2021, while this figure dropped to just 0.12% in January 2022.

Throughout its history, Bitcoin miner fund founder and CEO Andrew Scott Easton estimates that the country has mined about 60,000 BTC, worth $6.4 billion at current prices.

At the same time, Kent Halliburton, co-founder and CEO of the mining platform, estimates that since 2018, the country has mined between 100,000 and 200,000 bitcoins. This could mean that the bitcoins held are worth between $10.7 billion and $21.4 billion. Timing is crucial, as in 2019, Iran began issuing legal licenses for crypto mining.
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