Bitcoin Hash Rate Tumbles as Halving Approaches

The hash rate of Bitcoin's network has dropped by 25% since the weekend, which is concerning ahead of the upcoming "halving" event. The hash rate is the speed at which computers are mining Bitcoin. Miners in Texas have reduced power usage to strengthen the local grid, causing the decrease in hash rate. Texas is a major mining hub due to cheap electricity. The halving event, expected in April, will reduce the Bitcoin rewards for miners by half. Some analysts believe this could drive up the price of Bitcoin.#BTCbitcoin $BTC