- Bitcoin miners cut production amid US winter storm.
- Hashrate dropped by 8-40% in US.
- Grid demand-response programs were activated.
Bitcoin miners in the US reduced production during Winter Storm Fern in January 2026 due to extreme cold, resulting in significant network hashrate drops.
This event highlights the vulnerability of Bitcoin mining to weather disruptions, affecting network performance and financial returns for miners.
In late January 2026, US Bitcoin miners significantly curtailed operations due to Winter Storm Fern, reducing network hashrate by 8-40%. The storm caused power outages impacting over 1 million customers, straining grids across multiple states and including critical demand.
Key players from Foundry USA to CleanSpark reduced power usage in support of grid stability. Leadership reiterated the importance of interruptible loads. Matthew Schultz, CEO of CleanSpark, stated, “curtailed operations to push power back to support critical needs. This demonstrates the value of interruptible loads to balance and protect the grid.” Firms involved earned credits offsetting potential losses during curtailed periods, highlighting integration into grid programs.
The decision immediately affected Bitcoin mining economics as daily revenue fell from $45M to a yearly low of $28M. Public miners’ output saw a similar drastic decline. Network congestion arose as hashrate dropped, prolonging block creation times.
On a broader scale, financial implications were notable, with miners leveraging curtailment credits to alleviate revenue dips. Economically, these changes underscore how energy prices and weather events influence profitability within the mining sector. Grid operators PJM and TVA were central in managing demand-response efforts. ERCOT’s program also played a key role, illustrating how critical these partnerships have become in balancing power needs amid extreme weather challenges.
Potential outcomes may include further scrutiny of mining’s integration with grid infrastructures, given historical precedents like Winter Storm Uri. These events present both challenges and learning opportunities for regulatory and institutional engagements moving forward.
