Winter Storm Triggers Major Bitcoin Hashrate Decline

A severe winter storm in the United States has led to a substantial 40% decrease in Bitcoin hashrate as miners scaled back operations to conserve energy. According to NS3.AI, miners, especially those in Texas, are financially incentivized to engage in grid demand-response programs, allowing them to sell power back to the grid during periods of high demand. The Bitcoin protocol accommodates these hashrate fluctuations through its difficulty adjustment mechanism, maintaining network security and stability despite temporary block delays.