As Texas grapples with unexpected subzero temperatures, the state’s bitcoin mining operations have shut down due to high energy demand. This has freed up much needed electricity capacity in the state, while also leading to a sharp drop in the global Bitcoin hashrate.
Bitcoin Mining in Texas Faces Test as Subzero Weather Strikes
The plummeting temperatures sweeping through Texas have led to a significant drop in Bitcoin’s hashrate. As the Lone Star State battles with subzero conditions, bitcoin miners are curtailing operations, contributing to a notable 34% decrease in the global Bitcoin hashrate.
In a great thread on X preceding the freezing weather, James Mcavity, CEO of Cormint, Inc., described the impact of the current winter storm on the state’s power grid and the consequent response from Bitcoin miners.
There is a big winter storm crossing the country right now. This storm will put a strain on power grids
If prices get above $.1 – $.2 per kWh 95% of the bitcoin mining load
We współpracy z: https://news.bitcoin.com/subzero-temperatures-in-texas-impact-bitcoin-hashrate-amidst-energy-strains/
