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As tensions in Iran escalate, energy prices are surging rapidly, and this is unexpectedly having a significant impact on Bitcoin mining.
The hash rate is noticeably dropping. When electricity costs for mining increase, the profitability of mining sharply deteriorates. It seems that many mining operators with thin margins are withdrawing.
In reality, the Bitcoin hashing process is energy-intensive, so it is sensitive to fluctuations in energy prices. Every time Middle Eastern tensions escalate, these chain reactions occur. This time is no exception.
From a network security perspective, a decline in hash rate is a short-term concern. However, due to difficulty adjustments, the system automatically balances itself over the long term.
During such times, it’s valuable to monitor the financial health of miners and trends in investments toward energy-efficient mining equipment. These serve as indicators of market efficiency.