According to Cointelegraph, due to the winter storm "Fern," Foundry USA, the world's largest Bitcoin mining pool, has seen its hashrate drop nearly 60% since last Friday, a reduction of about 200 EH/s. The mining pool currently controls approximately 198 EH/s, representing 23% of the global mining pool hashrate. This large-scale reduction in production has slowed Bitcoin block generation to one every 12 minutes. The storm has caused over a million U.S. residents to lose power, and miners have helped balance the grid load by adjusting their energy consumption, acting as controllable load resources in emergency situations.
Winter Storm Causes 60% Hashrate Drop for Foundry USA Bitcoin Mining Pool
TechFlowShare
Summary
Winter storm "Fern" has reduced Foundry USA's hashrate by 60%, taking nearly 200 EH/s offline since last Friday. The mining node is now operating at 198 EH/s, representing 23% of the global Bitcoin hashrate. The disruption has increased the average block time to 12 minutes. Over a million U.S. homes lost power, prompting Proof of Work (PoW) miners to reduce their energy consumption and help stabilize the power grid.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.