According to Xwin Research, the recent U.S. cold wave caused a sharp fall in Bitcoin network hashrate, a supply disruption that could be mistaken for miner capitulation.
A severe cold wave in the United States has significantly reduced Bitcoin network hashrate, according to Xwin Research. The firm warns that this temporary supply shock may be misinterpreted by market observers as miner capitulation, a term used when miners exit operations due to unprofitability. Weather-related disruptions like these have previously caused brief fluctuations in network performance without indicating long-term weakness in mining activity.