The hashrate of the Bitcoin network dropped by about 25% in recent days due to requests from the Texas grid regulator.
This was in response to severe cold weather that hit the state, which is now considered a major hub for the cryptocurrency industry.
Data from MiningPoolStats and Blockchain.com showed a decline in global hashrate estimates from 600 EH/s on Friday to 450 EH/s on Tuesday.
This coincided with a weather warning issued by ERCOT, the Electric Reliability Council of Texas, for Jan. 14 to 17.
The council also appealed for conservation of electricity on Sunday, Monday, and Tuesday due to record-breaking demand and low wind.
