Bitcoin Miners Freeze Their Assets (Literally) in Winter Storm Frenzy

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Observations from the Storm

  • The merciless winter storm Fern has swept across America, leaving Bitcoin miners shivering-both from cold and from lost profits.
  • Several miners, in a rare display of self-preservation, dropped their hashrate, delaying Bitcoin block production by a whole two minutes-an eternity in crypto time.
  • History repeats itself, as it did in the Texas freezes of 2021 and 2022, when miners graciously decided not to crash the entire power grid.

Winter storm Fern has rampaged through the United States, leaving behind the usual casualties: frozen pipes, frustrated citizens, and-most tragically-slowed Bitcoin mining operations. The network’s block production slowed by nearly two minutes, proving that even machines fear the cold.

Foundry USA, one of the largest Bitcoin miners, suffered a dramatic 60% drop in hashrate, as if the storm had personally offended its servers. From a lofty peak of 340 EH/s, it stumbled down to a mere 242 EH/s-numbers that would make any miner weep into their overpriced coffee.

UPDATE: #Bitcoin hashrate on FoundryUSA is down by nearly 200 EH/s, or 60%, since Friday amid continued curtailment. Temporary block production slows down to 12 minutes 🫥🫥

– TheMinerMag (@TheMinerMag_) January 25, 2026

This unfortunate event removed roughly 23% of the global Bitcoin mining power from the equation, slowing block production to a sluggish 12 minutes-far too long for anyone accustomed to instant gratification.

A Noble Sacrifice (Or Just Good Business?)

Foundry, headquartered in the storm-battered U.S., relies heavily on facilities in places like Texas-where winter storms go to prove they exist. In a move that was either altruistic or financially prudent (who can say?), the firm voluntarily reduced operations to “stabilize the grid.”

Luxor, another mining giant, followed suit, watching its hashrate plummet from 45 EH/s to a pitiful 26 EH/s. Together, these two pools lost over 110 EH/s-enough computing power to make a calculator feel superior.

This was not an isolated incident. Marathon Digital Holdings and others also dialed back operations, proving that even Bitcoin miners understand the concept of self-preservation-sometimes.

“For most operations, staying offline is the economically rational choice during peak stress periods,” Luxor noted in their latest article on X. Translation: “We’d rather not pay a fortune for electricity when nobody’s watching.”

Bitcoin’s Fragile Dance with Nature

The storm serves as a reminder that Bitcoin mining, for all its digital grandeur, still depends on the whims of regional power grids and the weather. While the decentralized nature of Bitcoin means miners elsewhere can compensate, sudden mass shutdowns create temporary chaos-much like a toddler denied candy.

This is not the first time winter has bullied miners into submission. The Texas freezes of 2021 and 2022 saw similar disruptions, proving that even the mighty crypto industry bows before Mother Nature.

Despite the turmoil, Bitcoin’s price remained stubbornly stable-perhaps because traders were too busy shoveling snow to panic-sell. At press time, Bitcoin hovered near $87,773, down a negligible 1%, while trading volume surged 188%. Because nothing says “crisis” like frenzied trading.

The Storm’s Wider Wrath

Winter storm Fernan has carved a path of destruction from the southern plains to the Northeast, covering roughly 1,800 miles-because why be subtle? Forecasters have dubbed it “historic,” which is meteorologist-speak for “really inconvenient.”

The storm has left over a million households and businesses without power, because nothing says “progress” like 19th-century living conditions. Texas, Arkansas, Tennessee, and Louisiana bore the brunt, proving once again that winter has a grudge against the South.

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2026-01-26 10:29