COINTURK NEWSCOINTURK NEWSCOINTURK NEWS
  • Real-Time News Feed
  • Bitcoin
  • Altcoin
  • Ethereum
  • Ripple
  • Contact
  • Advertise
  • TURTURTUR
  • ESESES
Search
© 2024 COINTURK NEWS. All Rights Reserved.
Reading: Bitcoin Hashrate Drops by 25% Due to Adverse Weather in Texas
Share
Languages
  • TürkçeTürkçe
  • EspañolEspañol
Font ResizerAa
COINTURK NEWSCOINTURK NEWS
Font ResizerAa
Search
  • Real-Time News Feed
  • Bitcoin
  • Altcoin
  • Ethereum
  • Ripple
  • Contact
  • Advertise
  • TURTURTUR
  • ESESES
Follow US
© 2025 BLOCKCHAIN Information Technologies. >> COINTURK NEWS
Powered by LK SOFTWARE
COINTURK NEWS > Cryptocurrency Mining > Bitcoin Hashrate Drops by 25% Due to Adverse Weather in Texas
Cryptocurrency Mining

Bitcoin Hashrate Drops by 25% Due to Adverse Weather in Texas

In Brief

  • Bitcoin network's hashrate fell 25% after severe Texas weather.

  • Mining operations halted due to power grid outages in Texas.

  • Analysts focus on Texas' role in cryptocurrency mining sector.

COINTURK NEWS
COINTURK NEWS 1 year ago
Share
SHARE

Bitcoin ecosystem’s network hashrate ratio has decreased by 25% in the last few days. This situation occurred following adverse weather conditions in Texas. Power grid outages in the United States state led to the suspension of operations by mining companies. The development in Texas has caught the attention of many analysts regarding the state’s role in the mining sector.

Contents
Texas and Crypto MiningNoteworthy Developments in Mining Activities

Texas and Crypto Mining

Data from the mining data analysis platform MiningPoolStats shows that global hashrate estimates dropped from approximately 600 EH/s on January 12th to 450 EH/s on January 16th, coinciding with the weather warning issued by state officials for the extreme cold between January 14th and January 17th. Officials commented on the issue:

“The ongoing freezing cold; record-breaking demand and non-seasonal low wind are expected to result in low operating reserves tomorrow morning. We are asking businesses and residents in Texas to conserve electricity usage when it is safe to do so.”

According to MiningPoolStats, miners associated with Foundry USA Pool, one of the largest mining pool operators in terms of hashrate, were responsible for nearly half of the drop, falling from an estimated 155 EH/s on January 12th to 77 EH/s on January 16th. Luxor Mining Pool users were also affected by the cold wave. Ethan Vera, the Operations Director of Luxor Technology, made the following statement:

“Luxor mining partners have significantly reduced their operations in the past few days by shutting down machines to give back power to the grid.”

Noteworthy Developments in Mining Activities

China-based Bitcoin miners were previously leading the world in total hashrate. This dominance was left behind following the country’s bans on the sector in 2021 and the subsequent shutdown orders by regulators. Texas emerged as an alternative hub for mining, with miners claiming Texas is favorable because the industry’s flexible electricity usage could strengthen the state’s power grid.

Major mining firms such as Marathon Digital, Riot Platforms, and Iris Energy have contributed to the density of Bitcoin mining facilities in Texas in recent years, attracted by cheap electricity, grid incentives, and the allure of the state’s free energy market.

A report published by Foundry in September stated that US-based Bitcoin miners operating in Texas accounted for 28.5% of the country’s hashrate, the largest share among the states, more than doubling from 8.4% in 2021.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

You Might Also Like

Miners Face Challenges as Market Dynamics Shift

Trump’s Bitcoin Mining Strategy Faces Challenges with Increased Tariffs

Joint Venture Boosts Efficiency in Cryptocurrency Mining with Strategic Partnerships

Bitcoin Mining Profitability Dips: Key Insights Uncovered!

New Tariffs Force Bitcoin Miners to Adapt Quickly

COINTURK NEWS 18 January, 2024 - 1:04 am 18 January, 2024 - 1:04 am
Share This Article
Facebook Twitter
Share
Previous Article Understanding the Key Differences Between Owning Bitcoin and Investing in Bitcoin ETFs
Next Article Wormhole Protocol’s TVL Surpasses $1 Billion After Two Years
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Stay Connected

8.1k Like
21.1k Follow
1.1k Follow

Latest News

Experts Highlight Key Cryptocurrency Price Movements
Cryptocurrency News
Trump Drives Bitcoin and Cryptocurrencies to Skyrocket with Strategic Announcements
Cryptocurrency News
The Bitcoin Price Soars as Trump’s Decision Boosts the Crypto Market
Cryptocurrency News
Trump Strikes Strategic Agreements Shaking Global Tariffs
Cryptocurrency News
//

COINTURK was launched in March 2014 by a group of technology enthusiasts who believe that Bitcoin will be as important as the internet in the world of the future thanks to the amazing technology underlying it.

CRYPTOCURRENCY LIVE PRICES

  • Bitcoin (BTC) Live Price
  • Ethereum (ETH) Live Price
  • Ripple (XRP) Live Price
  • Solana (SOL) Live Price
  • Dogecoin (DOGE) Live Price
  • Cardano (ADA) Live Price
  • Chainlink (LINK) Live Price

OUR PARTNERS

  • COINMARKETCAP
  • COINGECKO
  • BITCOINHABER
  • BH NEWS
  • 21MILYON
  • NEWSLINKER

OUR COMPANY

  • About Us
  • Cookie Policy
  • Advertising
  • Contact
COINTURK NEWSCOINTURK NEWS
Follow US
© 2025 BLOCKCHAIN Information Technologies. >> COINTURK NEWS
Powered by LK SOFTWARE
Welcome Back!

Sign in to your account

Lost your password?