Bitcoin (BTC) mining difficulty (hashrate) decreased by 30 percent.
The ongoing blizzard in the US has had a serious impact on Bitcoin miners, causing many to shut down.
Bitcoin Mining Difficulty Drops 30 Percent
The hashrate of the Bitcoin network has dropped from 230 EH/s to 155 EH/s. The ongoing blizzard has brought with it operational disruptions for Bitcoin miners in the US.
The polar eruption, along with wind and heavy snow, shattered power lines and dropped temperatures dangerously, killing at least 22 people, CNN reported. Thousands of homes and businesses across the country were without power this holiday weekend due to the winter storm.
A major jolt occurred to the Bitcoin network as the hashrate, a measure of how much computing power is used to process transactions, dropped significantly. Since Saturday, the hashrate has dropped more than 30 percent from 230 EH/s to 155 EH/s, according to CoinMetrics data. This came about when many major miners stopped their operations after the National Weather Service warned of the impending Arctic eruption.