Quick Take
Bitcoin difficulty has seen a downward adjustment of 3% today. Remarkably, this marks the ninth negative adjustment in difficulty over the last year.
Impacts of Texas Heatwave on Hash Rate
The recent negative trend in difficulty adjustments can be partly attributed to the intense summer heatwave experienced in Texas. This weather phenomenon has significantly affected the operations of local Bitcoin miners, leading to a noteworthy decline in hash rate over the past couple of months.
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