Iran protests could temporarily lower global BTC hashrate

Anti-government protests in Iran could affect the local mining industry and the broader Bitcoin network, BeInCrypto reported. Iran is understood to account for between 2% and 4% of the global BTC hashrate. The outlet explained that while mining rigs will not shut down immediately, a decline in operational efficiency is inevitable, potentially leading to a temporary drop in the worldwide hashrate. The report added that the protests are expanding amid a collapse in the local currency's value, and that actions by authorities are creating extreme uncertainty for the country's mining sector.