Speculation has emerged on social media regarding a notable decline in Bitcoin's global hashrate, which plummeted from 943 EH/s to 753.81 EH/s shortly after U.S. airstrikes targeted Iranian nuclear facilities on June 22, 2025.

Reports suggest that the airstrikes may have disrupted power infrastructure near key mining facilities in Iran, resulting in blackouts and network interruptions that could hinder mining operations.

While it remains unclear if the U.S. strikes aimed to disrupt Bitcoin mining specifically, the damage to energy systems could have significant repercussions for the mining sector.

Iran, which has been a notable player in the Bitcoin mining industry since legalizing it in 2019, previously accounted for 4.5% of the global market share, but this has now decreased to approximately 3.1%.

This situation is reminiscent of the 2021 incident when China's mining ban caused a drastic drop in hashrate, which eventually recovered as miners relocated to other regions.

In the wake of the airstrikes, Bitcoin's price initially dipped to $98,500 but quickly rebounded above $101,000, reflecting the market's volatility in response to geopolitical tensions.

The recovery of the hashrate may take some time, as miners will need to gradually come back online unless further strikes occur, while the Bitcoin network will automatically adjust its mining difficulty to maintain smooth transaction processing.