Bitcoin Network Hashrate Records Largest Historical Drop, Possibly Affected by Extreme Weather in the US

Odaily News According to Cloverpool data, the Bitcoin network hashrate recently plummeted rapidly from approximately 1.16 ZH/s to 690 EH/s, marking the largest single drop in history. The hashrate has since begun to recover and is currently reported at around 859.17 EH/s.

Analysis suggests that this significant fluctuation in hashrate may be related to extreme weather in the United States. A winter storm named "Fernan" has triggered extreme low temperatures, heavy snowfall, and freezing conditions across multiple regions in the US, leading to power outages for over 1 million residents. Several grid operators have issued energy conservation alerts. Against this backdrop, some mining facilities in the US may have been forced offline due to power disruptions or proactively shut down to help stabilize the grid, resulting in a significant short-term decline in the overall Bitcoin network hashrate.