Close Menu
  • Coins
    • Bitcoin
    • Ethereum
    • Altcoins
    • NFT
  • Blockchain
  • DeFi
  • Metaverse
  • Regulation
  • Other
    • Exchanges
    • ICO
    • GameFi
    • Mining
    • Legal
  • MarketCap
What's Hot

Ethereum Whale Activity Surges as Fresh Wallets Add $2.43B

02/08/2025

Boom in RWA tokenization expected after passing of GENIUS Act — Aptos exec

02/08/2025

Fed Governor Kugler to step down on August 8, giving Trump chance to name replacement

02/08/2025
Facebook X (Twitter) Instagram
  • Back to NBTC homepage
  • Privacy Policy
  • Contact
X (Twitter) Telegram Facebook LinkedIn RSS
NBTC News
  • Coins
    1. Bitcoin
    2. Ethereum
    3. Altcoins
    4. NFT
    5. View All

    Two Bitcoin Whales Face Massive $190.61 Million Losses in Short Positions as BTC Climbs to New ATH of $122,838

    02/08/2025

    BTC Nearing Exhaustion or Gearing Up for $130K Next?

    02/08/2025

    ‘No One Needs Bitcoin,’ Peter Schiff Downplays BTC Price Surge

    02/08/2025

    Bitcoin’s next 3 price levels to watch after record high

    02/08/2025

    Ethereum Whale Activity Surges as Fresh Wallets Add $2.43B

    02/08/2025

    The Most Searched Cryptocurrencies of the Last Days Have Been Revealed! “Ethereum and These Five Altcoins Are at the Top!”

    02/08/2025

    The top corporate ETH holders as Wall Street eyes crypto

    02/08/2025

    Ethereum Most Important Macro Trade for Next Decade: Tom Lee

    02/08/2025

    The Sui Ecosystem’s Top 3 Altcoin Performers

    29/07/2025

    Floki Launches $69000 Guerrilla Marketing Challenge With FlokiUltras3

    28/07/2025

    Crypto Beast denies role in Altcoin (ALT) crash rug pull, blames snipers

    28/07/2025

    $1.6 Billion XRP Surge: Here’s What’s Unfolding

    28/07/2025

    Pixel Vault Removes CEO Following Self-Dealing and Rug Pull Accusations

    02/08/2025

    Labubus have succeeded in every way that NFTs have failed

    01/08/2025

    CryptoPunks Floor Price Hits 3-Year High of $208,000

    31/07/2025

    NFT sales surge to $574 million in July, second-highest in 2025

    31/07/2025

    Ethereum Whale Activity Surges as Fresh Wallets Add $2.43B

    02/08/2025

    Boom in RWA tokenization expected after passing of GENIUS Act — Aptos exec

    02/08/2025

    Fed Governor Kugler to step down on August 8, giving Trump chance to name replacement

    02/08/2025

    Two Bitcoin Whales Face Massive $190.61 Million Losses in Short Positions as BTC Climbs to New ATH of $122,838

    02/08/2025
  • Blockchain

    IONOS’ InternetX plans to tokenize 22M domains through Doma Protocol

    01/08/2025

    The Protocol of Agents: Web3’s MCP Potential

    01/08/2025

    EToro Plans to Tokenize U.S. Stocks on Ethereum in Blockchain Push

    01/08/2025

    Circle Wallet’s Strategic Leap for Web3 Developers

    01/08/2025

    Pyth Network brings Hong Kong stock prices onchain for global access

    01/08/2025
  • DeFi

    Why This DeFi Dip Might Be the Start of a Major Rotation?

    02/08/2025

    Lido cuts staff, Curve rethinks L2s

    02/08/2025

    Alchemy Pay Integrates into Solv Protocol to Bridge Fiat with Bitcoin DeFi

    02/08/2025

    Blazpay Joins Forces with CryplexAI to Drive AI DeFi with DePIN Storage

    02/08/2025

    Harbour Industrial Capital Invests $1.2 M into Four High-Growth Polkadot Ecosystem Projects

    01/08/2025
  • Metaverse

    Where Has the Metaverse Gone? Examining a Failed (and Costly) Trend

    01/08/2025

    From Metaverse to Machine Learning, Inside Meta’s $72 Billion AI Gamble

    31/07/2025

    AntVerse Integrates Terminus to Transform AI-Powered Metaverse with Web3 Payments

    25/07/2025

    The Sandbox Launches Largest LAND Auction Using GBM Protocol

    21/07/2025

    Elon Musk’s xAI Quietly Fixed Grok by Deleting a Line of Code

    09/07/2025
  • Regulation

    Boom in RWA tokenization expected after passing of GENIUS Act — Aptos exec

    02/08/2025

    50% of non-investors don’t understand it well enough to buy

    02/08/2025

    JPMorgan Chase’s Plans for Charging Fintechs for Customer Account Data Raising Concerns With at Least One CFPB Official: Report

    02/08/2025

    Arthur Hayes says stablecoins will finance Trump’s ‘fascist

    01/08/2025

    Skycorp Solar’s Strategic Leap into Digital Assets and Ethereum Investment

    01/08/2025
  • Other
    1. Exchanges
    2. ICO
    3. GameFi
    4. Mining
    5. Legal
    6. View All

    Sui DEX Momentum Teases Expansion Plans After Hitting $100 Million in Daily Volume

    31/07/2025

    $500,000,000 USDC Stun World’s Largest Crypto Exchange Amid Hourly Bloodbath

    31/07/2025

    Bithumb Temporarily Halts Celestia (TIA) Transactions!

    31/07/2025

    Coinbase in advanced talks to acquire India’s largest crypto exchange CoinDCX

    31/07/2025

    ICO for bitcoin yield farming chain Corn screams we’re so back

    22/01/2025

    Why 2025 Will See the Comeback of the ICO

    26/12/2024

    The Squid Fighter game is taking Telegram by storm — join the fight and claim your NFT before it’s too late!

    01/08/2025

    This Game Lets You Relive the Ethereum Story Through Vitalik Buterin’s Eyes

    31/07/2025

    PEPE GAMES Integrates with GaFin to Power the Meme Gaming Hub

    30/07/2025

    A Pressure Group Forced Steam to Remove Adult Games. It’s Coming After Crypto Next

    30/07/2025

    Bitcoin Mining Profitability Last Month Hit Highest Level Since the Halving: JPMorgan

    01/08/2025

    Bitcoin mining faces surging power demands and record-low fees

    01/08/2025

    Auradine Shipped $73M Worth of Bitcoin Miners to MARA in H1 2025

    31/07/2025

    London Bitcoin Company Surpasses 1,000 Miners in North America

    31/07/2025

    Fed Governor Kugler to step down on August 8, giving Trump chance to name replacement

    02/08/2025

    The SEC launches new project to engage small crypto startups

    02/08/2025

    COINS Act 2025 Offers a ‘Rights-First’ Roadmap

    31/07/2025

    GENIUS Act to spark wave of ‘killer apps’ and new payment services: Sygnum

    31/07/2025

    Ethereum Whale Activity Surges as Fresh Wallets Add $2.43B

    02/08/2025

    Boom in RWA tokenization expected after passing of GENIUS Act — Aptos exec

    02/08/2025

    Fed Governor Kugler to step down on August 8, giving Trump chance to name replacement

    02/08/2025

    Two Bitcoin Whales Face Massive $190.61 Million Losses in Short Positions as BTC Climbs to New ATH of $122,838

    02/08/2025
  • MarketCap
NBTC News
Home»Mining»Experts Debate Why Bitcoin Hashrate Plummeted in June
Mining

Experts Debate Why Bitcoin Hashrate Plummeted in June

NBTCBy NBTC28/06/2025No Comments3 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email


In June, Bitcoin’s hashrate suddenly plunged to its lowest level in over a year. The decline came amid heightened political tensions between the US and Iran, prompting speculation about a potential geopolitical connection.

However, experts remain divided. What are the arguments on both sides of the debate? Here’s a deeper look.

Bitcoin Hashrate Plunges After ATH – Is Iran the Culprit?

Hashrate, a key metric measuring the computational power securing the Bitcoin network, indicates the scale and health of mining activity.

A high hashrate means more miners participate, making the network more secure. When the figure drops, it typically suggests that many miners have paused operations for some reason.

According to CryptoQuant, the 7-day average Bitcoin hashrate dropped to 800 EH/s — its lowest level since March 2025.

Bitcoin Hashrate. Source: CryptoQuant

This sharp decline occurred between June 14 and 24, coinciding with rising military tensions involving Israel, the US, and Iran.

Nic, founder of CoinBureau, proposed a provocative theory. He suggested Iran may have converted oil into Bitcoin to bypass sanctions and fund state spending.

In a post on X, Nic estimated that about 3.1% of the global Bitcoin hashrate could be coming from Iran.

He argued that the drop in hashrate following US airstrikes might not be coincidental. Bitcoin mining facilities operated by Iran’s Islamic Revolutionary Guard Corps (IRGC) could have been targeted.

This theory is supported by blockchain analytics firm Elliptic, which has reported that Iran uses Bitcoin mining as a financial tool to withstand international sanctions.

Mike Alfred, another analyst, went further. He claimed that Iran is not only evading sanctions with Bitcoin, but also selling BTC obtained through cyberattacks to buy missiles and upgrade its uranium enrichment infrastructure.

“We might have entered an era where countries are bombing each other’s Bitcoin mining facilities as part of the global hash war I predicted in 2017,” Max Keiser told BeInCrypto.

Could the US Be the Real Cause?

Rob Warren, author of The Bitcoin Miner’s Almanac, offered a different view. He suggested the drop may be rooted in domestic conditions in the US, not geopolitical conflict.

Instead of blaming airstrikes in Iran, Warren pointed to extreme heat in the US as a more likely factor.

Daytime High Temperature in the United States. Source: National Digital Forecast Database (NDFD)

“It’s impossible to know at any given moment how many miners are operating. Block time is the only proxy we have for existent hashrate. My guess is curtailment due to the US heat dome, combined with many other unknowns. I don’t think Iran is a single cause,” Warren said.

Tech investor Daniel Batten agreed and applied Occam’s Razor — the idea that the simplest explanation is usually correct.

He noted that record-high temperatures in Texas drove up electricity demand on the ERCOT power grid, forcing miners to scale down operations to prevent overload.

Data from the US Energy Information Administration (EIA) shows electricity usage in Texas has surged, partly due to the growth of data centers and mining facilities. Natural gas-powered electricity generation is projected to increase by 8% in 2025.

The crypto community watches closely for definitive answers as geopolitical instability and climate-related disruptions rise. Regardless of the cause, this hashrate drop will likely have long-term implications for Bitcoin’s price and mining strategies.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
NBTC

Related Posts

Bitcoin Mining Profitability Last Month Hit Highest Level Since the Halving: JPMorgan

01/08/2025

Bitcoin mining faces surging power demands and record-low fees

01/08/2025

Auradine Shipped $73M Worth of Bitcoin Miners to MARA in H1 2025

31/07/2025

London Bitcoin Company Surpasses 1,000 Miners in North America

31/07/2025
Add A Comment

Comments are closed.

Top Posts
Get Informed

Subscribe to Updates

Get the latest news from NBTC regarding crypto, blockchains and web3 related topics.

Your source for the serious news. This website is crafted specifically to for crazy and hot cryptonews. Visit our main page for more tons of news.

We're social. Connect with us:

Facebook X (Twitter) LinkedIn RSS
Top Insights

Ethereum Whale Activity Surges as Fresh Wallets Add $2.43B

02/08/2025

Boom in RWA tokenization expected after passing of GENIUS Act — Aptos exec

02/08/2025

Fed Governor Kugler to step down on August 8, giving Trump chance to name replacement

02/08/2025
Get Informed

Subscribe to Updates

Get the latest news from NBTC regarding crypto, blockchains and web3 related topics.

Type above and press Enter to search. Press Esc to cancel.