Wu Shuo has learned that Hashrate Index released a report stating that crude oil price shocks have limited impact on Bitcoin mining economics. Currently, only approximately 6%–10% of global hash rate is located in regions with high correlation between electricity prices and oil prices (primarily Gulf countries such as the UAE and Oman), while the remaining approximately 90% of hash rate is supplied by grids that primarily rely on hydroelectric, coal, or natural gas, which are less affected by crude oil prices. The report points out that the real risk of rising oil prices to miners lies in the macroeconomic environment potentially depressing Bitcoin prices, thereby reducing miner revenues (hashprice). In February 2026, USD hashprice fell to a historic low of 27.89 dollars / PH/s / day, primarily driven by a 23.8% decline in BTC price.