Although the ongoing blizzards in the USA caused many problems across the country, it seems to have made the work of Bitcoin miners easier. Because of the storms, the difficulty of Bitcoin mining has decreased by as much as 30 percent.
The difficulty level of Bitcoin mining is measured by a value called Hashrate. The hashrate difficulty, which was 230 EH/s before the storm, decreased from 230 EH/s to 155 EH/s. This means that systems can decode hashrates more easily.
What is hashrate? What does it have to do with Bitcoin mining?
The hashrate, called the hash rate or hash power, is how many guesses should be made per second. Normally, every new blog in Bitcoin comes out approximately every 10 minutes. To maintain this balance, the hashrate rises or falls depending on the number of miners. The more miners there are, the higher the hashrate.
According to CoinMetrics data, while 230,000,000,000,000,000,000 (230 quintillion) transactions per second were required before the storm, this figure dropped to 155,000,000,000,000,000,000 (155 quintillions) after the storm. Considering that the miners who found the hash value earned themselves Bitcoin, the chances of miners to make a profit increased at a similar rate.
The US National Weather Service recently shared a warning regarding the blizzard, which left many areas without power in the USA and caused 22 people to die so far. After this warning, miners in the USA suspended their activities, while some miners were left without electricity.
8506
