BTC hashrate recovered in the U.S. after its decline due to snowstorms
Colder temperatures and severe weather hit the United States, causing most mining farms to shut down. At the same time, bitcoin's processing power (hash rate) fell by more than 30 percent.
As of the morning of December 26, the BTC network's hash rate had finally recovered.
Low temperatures in the U.S. have reached record highs in recent days, and snowstorms have exacerbated the situation. As a result, the power grid was overloaded.
Devices of many U.S. mining companies were temporarily shut down. Now the situation has stabilized. And on the morning of December 26, bitcoin processing power returned to 230 Ehs per second (Eh/s).
Recall that based on data provided by the Cambridge Center for Alternative Finance, the average monthly BTC hash rate in the U.S. (as of January 22 this year) was 37.84 percent.
This is not the first time the United States has seen weather conditions affect mining in the country. A similar case occurred in the summer of 2022. The bitcoin hash rate dropped by twenty-seven percent in less than a day. This was caused by the extreme heat, which overloaded the power grid.
This summer, the problem was relevant for other countries. For example, Iran.