比特币挖矿格局生变！美俄伊争霸，不丹占40%GDP，Tether豪赌最大矿企？

Core Insights - The global Bitcoin mining landscape is undergoing a profound transformation, moving away from a China-centric model to a more complex geopolitical competition involving major powers and cryptocurrency giants [1][16] Group 1: Geopolitical Dynamics - The recent volatility in Bitcoin's global hash rate highlights the intense geopolitical rivalry among nations, particularly between the US and Iran, with speculations about military actions targeting Bitcoin mining facilities [2][4] - Iran, previously accounting for about 4% of global Bitcoin hash rate, has faced disruptions in its mining operations due to military conflicts, impacting the global hash rate competition [4] - The US, while currently leading in Bitcoin mining, faces supply chain challenges due to reliance on Chinese mining hardware manufacturers, prompting efforts to localize production [6] Group 2: Small Nations' Strategies - Bhutan has emerged as a unique player in Bitcoin mining, leveraging its abundant renewable energy resources to mine Bitcoin, accumulating assets worth approximately $1.3 billion, equivalent to 40% of its GDP [9] - The Bhutanese government has initiated a national strategy to utilize excess hydropower for mining, which has positively impacted its economy by funding public sector salary increases and implementing cryptocurrency payment systems [9] - Inspired by Bhutan's success, Pakistan plans to redirect its idle 2GW power capacity towards Bitcoin mining, aiming to save $745 million annually and generate nearly $1.8 billion in foreign exchange, although it faces significant challenges [11] Group 3: Corporate Ambitions - Tether, the largest stablecoin issuer, aims to become the leading Bitcoin mining company by the end of 2025, having already invested over $2 billion in green energy mining operations across 15 locations [12][14] - Tether's strategic move into mining is not just a financial investment but also a measure to secure its substantial Bitcoin reserves, indicating a shift in the competitive landscape where private enterprises rival nation-states in mining capabilities [14][16]