On August 1, Iranian hardline activist Ali Gholhaki warned that Iran would retaliate by targeting critical regional infrastructure if its energy facilities suffered significant damage from U.S. or Israeli strikes. Iran legalized Bitcoin mining in 2019 and its crypto ecosystem is estimated at $7.8 billion, largely relying on subsidized electricity that made the country competitive for mining operations. In June 2025, a pro-Israel group hacked Iranian crypto exchange Nobitex for approximately $90 million, exposing the fragility of Iran’s digital financial infrastructure. During Israel-Iran confrontations in June 2025, Bitcoin dipped below $104,000 while oil prices spiked, with tokenized oil contracts experiencing real-time liquidations as traders repriced exposure. The Strait of Hormuz, through which a significant portion of global oil supply flows, remains central to concerns about regional escalation.
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