All economies are facing the threat of the crisis in the West Asian countries, and the Bitcoin (BTC) mining sector is no exception.
According to a report published by Hashrate Index, the global hashrate in Q2 2026 has decreased to 1,004 EH/s from a peak of 1,066 EH/s in Q1 2026.
The 5.8% drop in the quarter-on-quarter (QoQ) analysis shows a continued decline—a strong indicator of the strength of the Bitcoin ecosystem. Additionally, it shows that miners are shutting down or using less mining power to secure the network.
How did the price of Bitcoin help?
At a distance, it is clear that this will not only lead to international conflicts and a drop in the price of Bitcoin. In his words, the leading cryptocurrency has fallen by 50% from the October all-time high.
This has caused hash rates to drop dramatically.
That said, the distribution of the world market in Q2 2026 for Bitcoin mines also draw well. It shows how changing geopolitical dynamics affect the global hashrate.
The report shows that the top three countries control about 65% of the global hashrate. This includes the United States, which has a global hashrate of 375 EH/s, with 37.4%.
Next behind is Russia, which has 170 EH/s of the world, which has 16.9%, and then there is China, which covers 12.1% and 120 EH/s of the world.
A known decline
Most importantly, China fell by 1.35% due to the December 2025 Xinjiang initiative. In his words, this led to the closure of 400,000 mining equipment.
Iran ranked second on the list, facing a QoQ decline of 0.6% due to ongoing unrest in the region. As expected, the US was third with a slight decline of 0.13% QoQ despite an increase of 3% year-on-year (YoY).
Bitcoin miner difficulty and profitability analysis
Meanwhile, the Bitcoin mining difficulty chart moving sideways shows a slight recovery or stabilization of mining compared to the drop seen in March.
This reinforces the idea that high network security is bullish confidence in the long-term value of Bitcoin.
In addition, the Bitcoin Miner’s profit or loss chart shows that most of the miners are well paid and earn average profits. However, as Q2 began, the ‘highly paid’ lines grew significantly, suggesting that profits are currently being squeezed.
Brief Summary
- Bitcoin’s 50% drop from its October all-time high is one of the factors that have led to the global decline.
- The Bitcoin mining profit/loss chart shows that most miners are underpaid, resulting in low profits.
