Odaily Planet Daily reports that according to Cloverpool data, the total network hash rate of Bitcoin recently dropped rapidly from approximately 1.16 ZH/s to 690 EH/s, marking the largest single decline in history. Subsequently, the hash rate began to recover and is currently around 859.17 EH/s.
Analysis suggests that this significant fluctuation in hash rate may be related to extreme weather conditions in the United States. A winter storm named “Fernan” has caused extreme low temperatures, heavy snowfall, and freezing weather in multiple parts of the US, resulting in power outages for over 1 million residents. Several power grid operators have issued energy-saving alerts. Against this backdrop, some US mining farms may have shut down either due to power outages or to stabilize the grid, leading to a significant short-term decrease in the Bitcoin network hash rate.
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