Fast Take
The Bitcoin community is witnessing its most substantial drawdown of 2023. There was a major decline within the community’s hash fee, from a peak of 382 terahashes per second (th/s) right down to 360 th/s.
In line with a latest report by the New York Post, Texas is concurrently experiencing record-breaking energy demand because of an ongoing, historic warmth wave. This surge in vitality consumption is straining the state’s energy grid to its limits.
The extreme demand for energy and the resultant stress on the grid has brought on a domino impact on numerous industries, notably impacting Bitcoin mining operations. Given the energy-intensive nature of cryptocurrency mining, some miners in Texas are confronted with the need to quickly droop operations, contributing to the noticed drawdown within the Bitcoin community’s hash fee.
The publish Report-breaking Texas energy demand amid largest Bitcoin hash fee drawdown of 2023 appeared first on CryptoSlate.
