After falling nearly 40% to 170.60 EH/s, Bitcoin’s network hash rate has recovered, rising to 241.29 EH/s. The hash rate had fallen from a weekly peak of 276.40 EH/s.
The drop was attributed to bone-chilling temperatures across the United States of America that stretched the country’s electricity grid.
Christmas Chill Cripples Mining Operations
The week leading up to Christmas saw a monster storm wreak havoc as the cold arctic chill swept across the United States, crippling the energy grid and leaving millions without power. The freezing temperatures also claimed 28 lives. Bitcoin mining operations were also severely impacted, with the energy grid stretched thin. According to reports, Bitcoin miners in Texas, which account for a significant chunk of the country’s hash rate, voluntarily ceased operations, giving power back to the grid and allowing residents to keep their homes heated.
The disruption caused due to the mining operations had a significant impact on Bitcoin’
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