Bad weather forced Texas miners to shut down equipment again

Severe weather conditions have not only left more than 250 thousand residents without electricity but also forced miners to shut down equipment to fix the local power grid. According to Bloomberg, the ice storm damaged some of the devices for mining cryptocurrencies.

In addition to power outages, the emergency event caused the price of electricity to rise, which also served as a reason for the suspension of the miners’ work.  Major companies such as Riot, Argo, Compute North, and others are operating in the state of Texas. 

The representative of BTC-miner JDK Capital said that the shutdowns last for about 6 hours a day, and such a situation has been observed since Monday. He also mentioned that such short shutdown periods cannot affect the result in the long term. 

As for the damage to the equipment, it was to equipment stored in containers and not designed to operate in such extreme conditions. 

Nevertheless, even the short-term outages of companies from Texas had an impact on the hashrate of the network. The last days of January saw the lowest value of 224 Eh/s this year.