Bitcoin Miners Hit the Brakes: June Hashrate Plummets Amid Scorching Heatwave—JPMorgan Reports

Bitcoin's backbone just got a heatstroke. The network's hashrate—its computational muscle—took a nosedive in June as miners battled extreme temperatures. JPMorgan's latest data reveals the crypto equivalent of a summer slowdown.

When the chips get hot, miners get quiet. The proof-of-work powerhouse saw rigs throttling back operations, either to avoid meltdowns or because local grids couldn't handle both AC units and ASICs. Either way, it's a rare case where Mother Nature outmuscles crypto's relentless growth engine.

Wall Street's watching with raised eyebrows. 'Another volatility factor for your risk models,' quips one analyst—as if Bitcoin needed more ways to keep traders guessing. The dip proves even decentralized networks bow to physics... and maybe Texas's crumbling infrastructure.