TL;DR A severe winter storm forced US bitcoin miners to cut operations, pushing the network’s hashrate, output, and miners’ margins to their lowest levels in months. The whole 9 yards of 💩 I’m The Royal Flush, your snarky correspondent from the front lines of crypto weather forecasting. If you think Bitcoin’s fate lives or dies on the latest price move, you’re missing the real drama: the electrical grid, the weather, and a bunch of gearheads who treat electricity like a sport. CryptoQuant just dropped a headline that sounds alarming in a very precise way: Bitcoin hashrate down 12% in the worst drawdown since the China mining ban. A brutal winter storm in the United States forced miners to throttle back, and that, in turn, pulled hashrate, output, and miner margins to their weakest levels in months. Welcome to the quarterly mood swing, friends. Hashrate is the network’s horsepower, the raw number of hash attempts per second that keep the Bitcoin machine churning. Yes, it’s not...
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