It turns out that Bitcoin is really supporting Iran's missiles.

On June 21, the United States bombed Iranian nuclear facilities.
BTC hash rate plummeted by 25% in 24 hours.
It's not a coincidence; the entire mining farm lost power.

1/
Iran is not mining.
is to print foreign exchange
The electricity price is almost free, and the BTC mined is sold to the central bank.
Exchange BTC for USD, and USD for BTC.

2/
One BTC costs 5000 dollars
Market price 100,000 dollars
20 times profit
It's not retail investors mining, it's the national team mining.

3/
Who is mining
Revolutionary Guard Religious Foundation Official Electric Company
The military builds its own power plants, establishes its own power grid, and bears its own profits and losses.
Not connected to the national power grid, direct on-chain settlement.

4/
180,000 online mining machines in Iran in 2023
100,000 units belong to the system
Power consumption ≈ two nuclear power plants
If the electricity is insufficient, use civilian power; the mining farm never goes offline.

5/
Where does the mined BTC go?
Exchange USD Buy equipment Support military expenses Support black market exchange rate
Can be used, can be exchanged, can be walked.
Much more useful than their local currency.

6/
In 2020, Iran burned 10 million barrels of oil to mine Bitcoin.
Equivalent to 4% of annual oil exports.
This is not an energy consumption issue.
is to turn oil into BTC and then export it

7/
This is not a belief.
It is a geopolitical reality.
Other countries use BTC to hedge against inflation
They use BTC to maintain power.

8/
The hash rate cliff is not a market signal.
A country's mining farm lost power.
Information on the war on the chain is faster than the news.

9/
Cherish your BTC
It has become the last liquidity tool for certain countries.