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Due to extreme weather conditions in North America, Binance Cloud Mining products have been disabled. It's all about power outages and blackouts. Thus, the administration of Binance announced that it will extend the validity of subscriptions to the Cloud Mining product for three days to compensate its users for losses.
The Binance press service has published an official notification of the renewal of subscription plans for cloud mining due to a power outage as of December 28, 2022. The company reported that almost all of North America faced extreme weather conditions in the period from December 24, 2022 to December 26, 2022.
In addition, Binance drew attention to the fact that they will extend the validity period of all subscriptions to cloud mining products in the event of another power outage without further announcements. To check the updated subscription plan, users need to go to the "Account" section, then "Earn" followed by "Binance Pool", "Cloud Mining", "My orders" and "Validity Period".
As a result of the climatic collapse, many electric companies temporarily shut down stations. The fact is that an increased load was created on the power grid, so cryptocurrency miners, mainly in Texas (USA), were forced to suspend mining activities. These problems seriously affected the hashrate of bitcoin (BTC), which decreased by 40% last weekend, but then recovered.
The value dropped to 170 EH/s (hash per second) on December 25. Despite the fact that the peak last week was the value of 276.4 EH/s. According to data on December 26, the hashrate returned to the level of 241 EH/s.
The exchange rate of the main cryptocurrency bitcoin was at $16,661 as of 10:45 Moscow time on December 28, 2022.
