Sudden drop in Texas weather conditions could cause Hash Rate to drop Bitcoin It fell 34% as some miners were forced to scale back operations amid the state’s energy needs.
Starting from January 14th onwards. Temperatures in many parts of Texas fell below freezing for the first time.Since the big ice stormIn February 2023, according to data from YCharts.
By Hash Rate of the Bitcoin network reduceIt went from more than 629 exahashes per second (EH/s) on January 11 to around 415 EH/s on January 15 — representing a 34% drop, and the hash rate rose back up to more than 454 EH/s on January 15. January 16 as temperatures in Austin rose above freezing during the day.
Texas accounts for approximately 29% of the Bitcoin Hash Rate in the United States. Many mining companies have moved there from China. After China’s crackdown Several companies have operations in Texas, including Marathon Digital, Riot Platforms, Bitdeer and Core Scientific.
“Marathon, along with other Bitcoin miners, has scaled back operations. to support Texas’ electric grid and its citizens battling sub-zero temperatures,” said Charlie Schumacher, vice president of corporate communications for Marathon Digital.
“This is how Bitcoin miners should shut down operations during extreme weather events. To make energy more available and cheap to those who need it within minutes.”
A spokesperson for mining company Riot said: “Riot is actively involved in meeting demand. When assistance is essential for balancing a challenging climate.”
refer : cointelegraph.com
picture thebullamarillo.com
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