⚠️ US strikes on Iran are already reshaping global energy markets and mining margins are next...
Nearly 20% of global LNG trade passes through the Strait of Hormuz. When that chokepoint is threatened, global gas markets reprice fast.
For an industry where natural gas powers roughly 38% of global hashrate, instability in the Gulf is not abstract geopolitics. It directly feeds into electricity prices and ultimately mining margins.
The Strait of Hormuz carries:
🔸 ~20 million barrels/day of crude
🔸 ~20% of global LNG trade (largely from Qatar)
🔸 ~80%+ of those flows heading to Asia
Oil can reroute. LNG largely can’t. And that’s where this becomes a mining story.
Hormuz risk ➡️ LNG supply uncertainty ➡️ LNG reprices globally ➡️ Gas sets marginal power price in many markets ➡️ Electricity costs rise ➡️ Hashcost rises ➡️ Margins compress
Bitcoin price doesn’t need to move for profitability to change.
Natural gas represents 38.2% of global Bitcoin mining energy consumption. That makes gas the single largest power source in the industry.
So when LNG volatility spikes, it’s not a regional headline. It’s a global hashrate event.
But not all mining jurisdictions are equally exposed and geography suddenly becomes strategy.
👉 Read the full breakdown in my latest
LinkedIn
article to understand:
1️⃣ How a Gulf shipping risk can turn into a profitability shock for global hashrate.
2️⃣ Which mining countries face high, moderate, or low exposure.
3️⃣ What Miners Should Watch Right Now
