PANews reported on January 28th that, according to Cloverpool data, the Bitcoin network hashrate recently plummeted from 1.16 ZH/s to 690 EH/s, marking the largest drop in history. It subsequently rebounded and is currently trading at 859.17 EH/s. Some analysts suggest that this rapid decline in hashrate was due to the impact of winter storms in the United States.

Earlier reports indicated that due to the impact of the winter storm "Fern" in the United States, the hashrate of the Foundry USA Bitcoin mining pool has been reduced by approximately 60% since last Friday. This storm has swept across many parts of the United States, causing power outages for over one million residents.