On block 935,424, it experienced the largest drop since China's mining ban in 2021 and one of the ten largest declines in history. The main reason is that the total network hash rate decreased by approximately 20% over the past month, during which Bitcoin's price plummeted over 45% from a high of over $126,000 to the $60,000–$68,000 range. Additionally, the winter storm Fern caused many miners in the United States to suspend operations. The storm alone took about 200 EH/s of hash power offline.