HIVE Digital co-founder Frank Holmes tied recent hash rate fluctuations to sanctioned nations mining Bitcoin as a workaround to sanctions. Holmes said this is not limited to Iran, implying other countries facing US sanctions are also participating in similar operations. He further claimed that Bitcoin has become a strategic asset, especially for nations struggling to access dollars.

HIVE Digital co-founder Frank Holmes tied recent hash rate fluctuations to sanctioned nations mining Bitcoin as a workaround to sanctions. Holmes said this is not limited to Iran, implying other countries facing US sanctions are also participating in similar operations. He further claimed that Bitcoin has become a strategic asset, especially for nations struggling to access dollars.

Source: https://cryptoslate.com/sanctioned-nations-are-secretly-mining-bitcoin-and-the-clues-are-in-the-hash-rate/