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Everyone is doing the math: currently, the average cost to mine one Bitcoin globally is $50,000, and if you're not careful, you could even lose money. But in Iran, the cost is only $1,300!!!
This is hardly mining; it's more like "printing money."
The reason is surprisingly down-to-earth: Iran has abundant natural gas at home, more than they can use, and they can't sell it all, so they simply burn the gas to generate electricity and mine BTC. Energy costs are almost zero, and electricity is basically free. In 2019, they legalized this practice, with miners using subsidized electricity, and the mined coins are not owned by them but are directly handed over to the central bank.
This move is brilliant! Because of US sanctions, Iran can't spend its US dollars, can't buy food, and can't buy machinery. Now, they settle transactions with Bitcoin, completely bypassing the US dollar system. Once they convert the coins, supplies arrive. Data shows that by 2025, this strategy has helped Iran secure over $3 billion in assets, becoming a lifeline for the country's economy.
Even more interesting, recently, when the US bombed Iran, the results were quite fascinating: the largest local exchange saw a 700% surge in the amount of local currency, the rial, exchanged for Bitcoin and withdrawn!
This shows you now: sometimes Bitcoin is more useful than gold. During chaos and war, do you carry a sack of gold bars to run away? Too heavy, too conspicuous, and you can't even get through customs. But Bitcoin? You just remember the password or carry a small hardware wallet, and your wealth goes wherever you go.
In peacetime, people dislike its volatility; but in extreme crises, it becomes the hardest "lifesaver." That's why, in a sense, BTC understands human nature better than gold, and it understands survival even more. $BTC