US Winter Storm Weighs on Bitcoin Mining Network, Cryptoquant Finds
The U.S. winter storm in January significantly impacted Bitcoin mining operations, leading to notable declines in hashrate, production, and miner revenue, as reported by Cryptoquant. Major U.S.-based mining firms reduced their activities due to power disruptions caused by the severe weather, resulting in the lowest production levels since the last halving event.
Bitcoin mining took a direct hit from January’s U.S. winter storm, with Cryptoquant data showing sharp declines in hashrate, production, and miner revenue across the network. Bitcoin Mining Production Falls to Post-Halving Lows According to Cryptoquant researchers, several large U.S.-based mining firms curtailed operations as severe weather disrupted power availability, accelerating a networkwide hashrate drawdown […]
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