Bitcoin mining in the United States has hit a rough patch after powerful winter storms forced large mining operations to shut down machines. The impact has been immediate and severe, with Bitcoin’s network hashrate, mining revenue, and overall output all taking a sharp hit.
This sudden slowdown marks the biggest disruption to Bitcoin mining in more than four years, highlighting how vulnerable even large-scale crypto operations can be to extreme weather.
Bitcoin Hashrate Sees Steepest Fall Since 2021
According to data from CryptoQuant, Bitcoin’s total network hashrate has dropped by nearly 12% since November 11. This is the steepest decline since October 2021, when the network was still recovering from China’s mining ban.
The hashrate now stands close to 970 exahashes per second, its lowest level since September 2025. The drop accelerated as freezing temperatures swept across major US mining hubs, disrupting power supply and forcing miners to go offline.
Power Cuts Force US Miners to Shut Down Machines
As extreme cold tightened its grip, several publicly listed Bitcoin mining companies temporarily shut down their equipment. The decision was taken to protect infrastructure and comply with electricity grid curtailment requests.
This came on top of an existing slowdown that began late last year, when Bitcoin retreated from its $126,000 all-time high and moved closer to the $100,000 level.
With fewer machines running, the pressure on miners quickly became visible in revenue and production data.
Bitcoin Mining Revenue Drops to Yearly Lows
Daily Bitcoin mining revenue fell sharply from around $45 million on January 22 to nearly $28 million just two days later the lowest level recorded this year.
Although revenue has since recovered slightly to about $34 million, it remains well below recent averages. The decline reflects a mix of reduced network activity, lower output, and weaker Bitcoin prices.
- Bitcoin Production Slumps Across the Network
- Mining output has also seen a dramatic fall:
- Publicly listed miners saw daily production drop from around 77 Bitcoin to just 28 Bitcoin
- Other miners experienced a decline from roughly 403 Bitcoin to 209 Bitcoin
On a 30-day rolling basis, publicly traded miners recorded a 48-Bitcoin drop in production, the sharpest decline since May 2024, shortly after the latest Bitcoin halving.
Privately held miners were hit even harder, with output falling by 215 Bitcoin, the largest drop since July 2024, showing that the disruption was widespread.
Bitcoin Miner Profitability Under Heavy Pressure
As output and revenue declined, miner profitability also took a hit. Crypto Quant’s Miner Profit and Loss Sustainability Index has dropped to 21, its lowest level since November 2024.
This indicates growing financial stress across the mining sector, with revenues increasingly failing to cover operating costs. This is happening despite multiple downward mining difficulty adjustments in recent epochs.
While difficulty has eased as miners went offline, it has not been enough to fully offset falling prices and weather-related disruptions.
What’s Next for Bitcoin Mining?
If the network hashrate remains weak, further difficulty reductions could follow in the coming weeks. This may offer some relief to miners that are still operating.
Meanwhile, independent researcher Daniel Batten recently highlighted that Bitcoin mining can actually support power grids rather than harm them. His research suggests that miners’ flexible energy use can help stabilize grids and potentially lower electricity costs for consumers, challenging long-held criticisms of the industry.
