Total Bitcoin Hash rate has dropped to 170 exahashes per second (EH/s) on December 25th, reports show that miners in Texas have adjusted their computing power due to the extreme cold weather. Statistics show that approximately 100 exahashes have been taken off the network, however, the hash rate was back up to 240 EH/s by 12:01 PM ET.
Texas Miners Cut Computing Power to Help Network
The network’s hash rate had reached 272 exahash per second (EH/s) on December 24th, however, it declined to 170 EH/s within the first few hours of the following day. Multiple reports and details revealed that the frigid temperature had caused miners in Texas to shut down their operations. Bitcoin enthusiast Dennis Porter shared a screenshot from a message sent by the mining firm Lancium, announcing their suspension of services to increase the network’s strength.
“Once again, Bitcoin miners have taken it upon themselves to reduce their power output during an extreme weather event in Texas,” Porter tweeted. “The network should be thankful for their contribution.” Core Scientific, another mining company, also took part in the reduction. Their statement indicated that “due to the bitter cold sweeping across the eastern and southern US, we will be participating in multiple power outages to stabilize the grid.”