$BTC Is Iran Using Bitcoin to Fund Missiles?
Recently, the speed of Bitcoin mining suddenly dropped significantly, behind which is the nationwide power outage of Iran's mining farms! This story dates back to the day the U.S. bombed Iran's nuclear facilities; on that day, all mining machines nationwide went offline, and it was no coincidence.
Mining in Iran has long been a national-level operation! The government directly subsidizes electricity prices, and the Revolutionary Guard, religious institutions, and state-owned enterprises build their own power plants, mining Bitcoin as if electricity were free.
They are not mining coins; they are mining cold hard dollars. Each Bitcoin costs only $5,000 to produce, but it sells for $100,000, yielding a profit that multiplies 20 times!
Data from 2023 is shocking: out of 180,000 mining machines nationwide, 100,000 are "exclusively supplied to the system". These machines consume electricity equivalent to that of two nuclear power plants in a year. Power outage? They just connect directly to the civilian power grid and keep going!
Even more surreal is their "oil-for-coin" strategy: in 2020, they burned 10 million barrels of oil for mining, equivalent to 4% of their annual export volume! This is not mining; it is clearly turning oil into Bitcoin for export. The mined coins are all converted into dollars to purchase arms and pay salaries, even supporting the black market exchange rate. In Iran, Bitcoin is more robust than the local currency.
Next time you see fluctuations in coin prices, it may not just be retail investors trading, but rather a country's mining farms secretly turning on and off. Remember, every BTC in your hand might be someone's "digital oil" from a war-torn country.
Newbies in the crypto space, do you now understand the geopolitical implications on the blockchain?
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