The computing power of the entire Bitcoin network dropped by about 25% due to the cold wave power cuts in Texas, USA

Odaily News After the recent cold wave, the Texas power grid regulator in the United States issued power curtailment requirements, causing the Bitcoin network computing power to drop by approximately 25% in the past few days. The U.S. state of Texas is the global center of the Bitcoin mining industry. According to data from MiningPoolStats and Blockchain.com, global hashrate estimates fell from about 600 EH/s last Friday to 450 EH/s on Tuesday, which coincides with the Electric Reliability Council of Texas (ERCOT) due to extreme extreme conditions in the region. The cold weather coincides with a weather warning issued from January 14 to 17. ERCOT is the grid regulator for much of the state. Following ERCOTs warning, officials issued calls to conserve electricity on Sunday, Monday and Tuesday. ERCOT said: Operating reserves are expected to be lower tomorrow morning due to continued cold temperatures, record-breaking demand and unseasonably low winds. We ask Texas businesses and residents to conserve power when it is safe to do so. Yesterdays latest Browning requests end at 9 a.m. Central Time. (The Block)