In the field of digital currency, Bitcoin has always been one of the most watched cryptocurrencies. However, a recent piece of news has caused a heavy shock to the entire industry: Bitcoin's computing power has dropped by 25%! The reason is that it is caused by the cold current power-limiting shutdown of the Texas mining pool in the United States. This sudden incident not only affects the mining ecology of Bitcoin, but also triggers heated discussions and concerns about the future development of digital currency worldwide.

With the plummeting of Bitcoin computing power, miners around the world have felt heavy pressure. The security and stability of the Bitcoin network have been challenged unprecedentedly, which has also caused people to worry about the overall ecology of digital currency. The impact of the power-limiting shutdown incident of the Texas mining pool in the United States is far-reaching, not only staying in the short-term decline in computing power, but also triggering deep thinking about the future development direction of Bitcoin.

First of all, we have to pay attention to the direct impact of the Texas mining pool in the United States on Bitcoin computing power. As one of the largest Bitcoin mining pools in the world, the cold current power-limiting shutdown of the Texas mining pool undoubtedly shocked the entire industry. The occurrence of this incident directly led to a sharp decline in the computing power of the Bitcoin network, thereby affecting mining efficiency and transaction confirmation speed. Miners are facing a more difficult mining environment, which has also put the stability of the entire Bitcoin network under severe test.

Secondly, the power-limited shutdown incident of the Texas mining pool in the United States has also triggered people to rethink the degree of decentralization of Bitcoin. As a decentralized digital currency, Bitcoin has always attracted many investors and miners with its decentralized characteristics that do not require third-party trust. However, this incident revealed that there are still some centralized weak links in the Bitcoin network. For the entire digital currency industry, how to further improve the degree of decentralization has become an urgent problem that needs to be solved before people.

Furthermore, the power-limited shutdown incident of the Texas mining pool in the United States also reflects the challenges of the digital currency industry in energy consumption and environmental protection. With the continuous expansion of the scale of Bitcoin mining, its consumption of energy resources has become increasingly prominent. The cold flow power-limited shutdown of the Texas mining pool has made people begin to reflect on the responsibility of the digital currency industry in energy utilization and environmental protection. In the future, how the digital currency industry will cope with energy consumption and environmental pressure has become an important issue facing the industry.

Finally, the power-limited shutdown incident of the Texas mining pool in the United States has brought far-reaching enlightenment to the entire digital currency industry. This incident not only made people aware of the challenges and difficulties in the digital currency industry, but also made people start to think about the future development direction of digital currency. In the future development, the digital currency industry needs to pay more attention to the implementation of the principle of decentralization, and also needs to think about how to better balance the relationship between energy consumption and environmental protection in order to meet future challenges.

In general, the power-limited shutdown incident of the Texas mining pool in the United States has brought shocks and reflections to the industry and outside the industry on the plunge in Bitcoin computing power. This incident not only made people re-examine the security and stability of the Bitcoin network, but also made people start to think about the future development direction of the digital currency industry in terms of decentralization, energy consumption and environmental protection. In the future development, the digital currency industry needs to work together to meet greater challenges and create a more prosperous future.

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Coin Circle (120BTc.COM) News: Recently, the total computing power of the Bitcoin network has dropped significantly. According to data from Blockchain.com, it dropped from about 600EH/s last Friday to 440EH/s yesterday, a drop of 25%. This is mainly because Texas, the United States, is facing a severe cold wave, which has caused the local power grid regulator ERCOT to require power restrictions from the 14th to the 17th to cope with the surge in power demand that may be caused by extreme cold weather.

Power restrictions in Texas are the main reason

The Miner Mag previously reported that the decline in computing power was mainly caused by Foundry USA
Pool, whose miner customers reduced computing power by up to 75EH/s. As of September, more than 28% of the computing power connected to the Foundry mining pool was located in Texas, so this decline in computing power is closely related to Texas' power restrictions.

Data from Mining Pool Stats shows that since Sunday, the computing power of Foundry USA
Pool and Ant Pool has dropped significantly, and the two largest Bitcoin mining pools account for more than 70% of the decline in computing power in the entire network.

As of now, with ERCOT announcing the end of the weather alert early this morning, the computing power of Foundry USA Pool and Ant Pool has rebounded to 146.54EH/s and 125EH/s respectively.

In addition to highlighting the impact of local policies on Bitcoin mining activities, this incident also highlights the unique advantage of Bitcoin mining activities that "can facilitate interruption of operations." Charlie Schumacher, vice president of corporate communications at Marathon Digital, one of the three major mining companies in North America affected by this, said: Bitcoin mining machines are in many ways a technical solution for the energy industry. In Texas, they provide a stable basic energy load and can adjust production within minutes to release energy for other users in an emergency. This is exactly what we have witnessed in recent days.

Texas becomes a Bitcoin mining center after China

It is worth mentioning that Texas has rapidly emerged as a new hub for Bitcoin mining since China cracked down on the mining industry in 2021. Miners believe that their mining activities are beneficial to the Texas grid because their flexible use of electricity can strengthen the state's grid: it can reduce electricity demand during peak periods and increase electricity supply during low periods.

Texas has attracted several companies, including Marathon Digital, Riot Platforms and Iris
Energy, to increase mining facilities in the state with its cheap electricity, grid incentive policies and unregulated energy markets. According to Foundry's report in September, US Bitcoin miners using its Texas mining pool accounted for 28.5% of the total US computing power, up from 8.4% in 2021, the highest among all states in the United States.

Texas's Bitcoin mining industry is also actively involved in electricity demand management. For example, Riot
Platforms received $31.7 million in power and demand response credits from ERCOT in August as an incentive for its cooperation in reducing electricity consumption by more than 95% during the summer heat. Iris
Energy also received $2.3 million in energy credits in the same month for voluntarily reducing electricity use.