Bitcoin Hash Unmoved by Chip Shortages and Iran Blackouts

bitcoin hashrate jan 23 2021 e1611429084779

The bitcoin hashrate appears to be unperturbed even as reports come out of Iran seising asics or closing farms. On January 14th, Iranian officials announced a two weeks power-cut of a China co-owned mining farm run by Iran & China Investment Development Group, as well as others. However, more than a week later the hashrate hardly seems to reflect it as pictured above, with it falling slightly from a new all time high of 155 petahashes a second to 146 Ph/s. That seems to be just usual variance, potentially because miners seem to be consuming very little energy with Iran’s Minister of Energy Reza Ardakanian stating the country consumes 38,000MW while total mining energy consumption is at just 300 MW. That could potentially be because many of these miners use their own power supply, with the recent blame of miners for power cuts in Iran probably more politics than reality.…

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