© Reuters
Investing.com – The Bitcoin network’s hashrate fell more than 38.8% from its peak on Wednesday as many U.S.-based miners were forced to shut down their facilities due to blizzards. slaughtered across the United States in recent days.
The hashrate was 155 exahashes per second on Saturday, compared to 253 exahashes on Wednesday. It recovered slightly on Sunday to reach a value of 206 exahashes.
A winter storm has killed at least 32 people in the United States. It has also caused the cancellation of many flights and neutralized transport in the country.
Core Scientific, a major bitcoin miner that filed for Chapter 11 bankruptcy protection last week, announced on Saturday that it will “participate in multiple power drawdowns to help stabilize the network electricity” and that the production of bitcoins should slow down.
On Thursday, bitcoin miner Riot Blockchain announced it was closing its facilities “due to extreme weather conditions in Texas.”