Iran managed to ship over 80 million barrels of oil and refined products worth approximately $6 billion during a temporary window before the US reimposed its naval blockade.
The US naval blockade on Iranian ports began on April 13, 2026, targeting Iran’s ability to monetize its energy reserves through the strategically vital Strait of Hormuz.
The Bitcoin toll booth in the Strait of Hormuz
Iran has been charging oil tankers $1 per barrel in Bitcoin, stablecoins, or yuan for safe passage through the Strait of Hormuz since at least April 2026. The Strait carries roughly 20% of the world’s oil supply.
Iran’s Bitcoin mining operations add another layer to this strategy. The country has effectively been converting surplus energy into exportable digital value, with mining operations enabling the equivalent of roughly 10 million barrels per year in energy exports.
