In the field of digital currency, Bitcoin has always been the focus of much attention. Recently, Bitcoin mining computing power experienced an amazing fluctuation, plummeting by 40%, but miraculously, it recovered quickly in just one day. This incident has attracted widespread attention from industry insiders, among which Dan Held, a well-known digital currency expert, also conducted an in-depth analysis. He pointed out that the plunge was related to power outages, but not due to excessive concentration. Let us explore the complex factors behind this incident in depth.

The plunge in Bitcoin mining computing power has attracted widespread attention, not only practitioners in the field of digital currency, but also ordinary investors. One of the reasons for this plunge is power outages. In some areas, the power supply is unstable, causing some mines to temporarily shut down their equipment. This sudden situation directly affected Bitcoin's mining computing power, causing it to fall sharply in a short period of time. However, surprisingly, as the power supply gradually recovered, Bitcoin mining computing power also quickly recovered within a day, showing the strong resilience of the digital currency market.

In his analysis of this incident, Dan Held pointed out that although power outages were an important factor in the plunge, they were not the only reason. He emphasized that the decentralized nature of the digital currency market makes the distribution of Bitcoin's computing power relatively dispersed, and there is no over-concentration. Even if some mines are affected, the overall market can still quickly adjust itself and maintain a relatively stable state. This decentralized advantage not only enhances the security of the Bitcoin network, but also makes it more resilient in the face of various challenges.

The rapid recovery of the Bitcoin mining computing power plunge highlights the vitality and resilience of the digital currency market. In the digital economy era, the stability of power supply is crucial to the mining industry. Any sudden factors may have an impact on the market, but the key lies in the market's self-regulation ability. As a leading digital currency, Bitcoin, with its decentralized advantages, can cope with various challenges in a short period of time and demonstrate strong risk resistance.

In general, the event of Bitcoin mining computing power plummeting 40% and rebounding in one day not only allows industry insiders to re-examine the stability of the digital currency market, but also provides valuable reference for investors. In the future digital economy era, in the face of various challenges, we need to pay more attention to market changes, and at the same time recognize the development potential of the digital currency industry. Only by continuous learning and adaptation can we be invincible in the fierce market competition. The plunge and recovery of Bitcoin’s computing power is a magnificent scene in the digital currency market, and also our thoughts and prospects for the future of the digital economy. I hope we can seize opportunities, meet challenges, and jointly create a brilliant new era of digital currency!

The four most famous international exchanges:

Binance INTL	OKX INTL	Gate.io INTL	Huobi INTL
China Line　APP DL	China Line　APP DL	China Line　APP DL	China Line　APP DL

Note: The above exchange logo is the official website registration link, and the text is the APP download link.

According to a recent report by 120Btc.com, the United States is being hit by a snowstorm. Starting on Christmas Eve (20), disasters have been reported in many parts of the United States. In New York State alone, 12 people have frozen to death due to extreme weather, and CNN has even stated that at least 22 people have died as a result. This has further boosted the demand for heating and caused power shortages.

Bitcoin network computing power has been restored

Bitcoin mining companies have temporarily announced the suspension of operations to avoid impacting local power supply. According to Ycharts data, since last Saturday, the computing power of the Bitcoin network has dropped from a weekly peak of 276EH/s to 170EH/s, a drop of more than 38%, the largest single-day drop since June.

However, in less than a day, the computing power of the Bitcoin network has recovered to some extent, and the average computing power in the past seven days before the deadline has recovered to 230EH/s. It is reported that Bitcoin's hash rate (Hash
Rate) is an indicator of the computing power used to process transactions and is regarded as a key indicator for assessing the security of the Bitcoin network.

In this regard, Dennis Porter, CEO of the Bitcoin mining advocacy organization Satoshi Action Fund, also said that the computing power plummeted by more than 30%, but it recovered in less than 24 hours and had no impact on the Bitcoin network.

Bitcoin KOL refutes the excessive concentration of mining power

It is worth noting that the recent sharp decline in the computing power of the entire Bitcoin network has also caused many people to complain about the problem of excessive concentration of Bitcoin mines. Among them, John Stefanop, founder of FutureBit, said that the decline in computing power was due to the simultaneous closure of many "highly concentrated mines" in Texas.

"I know that this does not change the fact that some large mines in Texas affect 33% of the entire network... Now everyone's transaction confirmation speed is 30% slower because the computing power is not dispersed enough."

Stefanop then added: If the computing power is evenly distributed globally by millions of small miners instead of dozens of large mines, then this incident will not even happen on the network.

However, Bitcoin bull Dan Held soon refuted Stefanop's view on the incident. He said that the decline in computing power caused by weather factors does not mean excessive concentration of ownership or control.

"Please take 5 minutes to search Google! I don't know where this incorrect stereotype comes from, and you are still selling miners!"

According to the Cambridge Bitcoin Electricity Consumption Index, the United States accounts for about 37.84% of the total Bitcoin network computing power each month, and the top four states in the United States for Bitcoin mining include New York, Kentucky, Georgia and Texas - all of which have power outages due to winter storms.