- Representatives of the Bitcoin mining industry claim that the oil crisis and rising nuclear energy prices are not affecting their operations.
- Most operators use renewable energy sources, so their efficiency is not affected.
- However, the decline in the price of BTC has a negative impact on their financial performance.
Oil prices have risen above the $100 mark after US President Donald Trump ordered about the blockade of the Strait of Hormuz. Amid this instability, Bitcoin miners insist their industry is immune to oil-related problems.
The price of a barrel of Brent crude oil rose to almost $105 on April 13, 2026, an increase of more than 8% compared to Sunday.
For the Bitcoin mining industry, oil prices provide only a “modest tailwind,” said Rafael Zagury, CEO of crypto mining company Elektron Energy.
Oil prices may reduce energy costs in some regions and improve profitability in the periphery, but this is not the determining factor.
Last week the price of Bitcoin rose higher $73,000 on news of a two-week ceasefire between the US and Iran, but fell into the $70,000 range after peace talks collapsed over the weekend.
For Bitcoin miners, the expected daily income they receive for their computing power is a much more important indicator than oil prices, Zaguri added.
Another key factor is network competition, or the number of miners active in the global market.
These indicators are much more important than short-term fluctuations in fuel prices, Zaguri emphasized.
Most Bitcoin miners don’t use oil, Cambridge researchers say. discovered, that more than 52% of global miners use renewable energy sources. This includes hydroelectric power plants and wind turbines.
Only a small portion of the global hashrate is directly dependent on oil-sensitive energy markets, the co-founder noted. Block- XYO company Marcus Levin. – Production costs remain determined by a wider range of energy sources.
Cambridge researchers have found that miners’ reliance on oil, gas and coal has decreased by 15% since 2022.
Thus, experts stated that a prolonged blockade of the Strait of Hormuz could trigger a global energy crisis, but the direct impact on Bitcoin miners would be minor.
If there’s no BitcoinSince miners don’t rely on nuclear energy, they are truly immune to price volatility in the global electricity market. However, rising oil prices still indirectly affect them, as investments in a risky asset like BTC decline. This results in a decline in the price of the leading cryptocurrency, which reduces the fiat equivalent of mined coins.
Risk Warning:
The information on this website is for informational and educational purposes only and does not constitute investment advice or financial recommendations. Cryptocurrencies and digital assets carry a high level of risk, including possible loss of capital. The editors are not responsible for decisions made based on the published materials. It is recommended that you conduct your own research (DYOR) before making investment decisions. Read the editorial policy. https://happycoin.club/about/