Bitcoin’s total hashrate tapped a low of 170 exahash per second (EH/s) on Dec. 25, as reports noted that bitcoin miners in Texas curtailed their hashpower during a massive winter freeze. Statistics show that close to 100 exahash dropped off the network but rebounded from the 170 EH/s low to 240 EH/s by 12:00 p.m. (ET).

After reaching 272 exahash per second (EH/s) on Dec. 24, 2022, the network’s hashrate plunged during the early hours the very next day as it dropped to 170 EH/s. A myriad of reports detail that because of the cold weather in Texas, bitcoin miners located in the area have voluntarily shut down operations.

Reports show that Texas is dealing with a major cold freeze and Texans do not want to experience icy blackouts like they did in 2021. The entire state will be dealing with subzero realfeel during the course of the holiday weekend. Reports on Friday noted that the Electric Reliability Council of Texas (ERCOT) grid in the state was holding its own but more cold winter tests are on the horizon.（Jamie Redman）