Anomalous cold weather has caused energy supply problems in Texas. Local power supply farms were cut off, causing a significant drop in hashrate capacity.
For example, the capacity of the exchange company Luxor Tech alone decreased by 40% - said its co-founder Itan Vera. According to him, most farms in the state are disconnected from the network.
It is still difficult to say how the closure of Texas farms has affected global computing power, but it is known that not only Luxor but also other companies such as Bitmain and Layer1 work in this American state. These giants have activated cryptographic mining companies here due to cheap electricity.
In 2019, Bitmain launched one of the largest bitcoin production farms in Texas. Layer1 has been making a change in West Texas since the beginning of 2020.
The Texas power system was paralyzed by wind turbine shutdowns caused by the rapid onset of cold weather in the state.
Last Sunday, nuclear and coal-fired power plants were shut down by order of a winter storm that affected not only Texas but also neighboring states. Many changing farms were also closed in Kentucky.
The capacity of the bitcoin network is falling this week, which may be due to the closure of Texas farms.
According to Blockchain.com, the BTC hashrate has dropped to 154.3 exahash per second (EH / s).
