Winter Storm Halts 40% of Bitcoin Mining, Hashrate Plummets

The dramatic reduction in Bitcoin mining activity over the weekend of January 25-26, 2026, was not an accident but a coordinated response to extreme weather. According to mining operators on the ground, including the Oregon-based firm Abundant Mines, the pause was intentional. As a fierce winter storm swept across much of the US, causing power outages and spiking demand, mining farms turned down their machines to reduce strain on regional utilities. Abundant Mines reported that roughly 40% of global mining capacity went offline within a 24-hour window. This rapid scaling back is possible because miners can shut down and restart hardware almost instantly, allowing them to act as a large, flexible electrical load that can be trimmed when the grid is under pressure.

This dynamic was particularly evident in Texas, a key hub for US mining activity. Reports indicate that miners worked directly with grid managers to help balance supply and demand, using their operations to absorb excess power when available and scaling back during periods of strain. The federal Energy Information Administration has noted there are more than 130 dedicated crypto mining sites across the US, meaning broad regional storms can have an outsized impact on the mining network. The incident demonstrates a growing, symbiotic relationship between large-scale crypto mining and energy infrastructure management.

The immediate technical consequence of the shutdowns was a sharp decline in the Bitcoin network’s total computational power, or hashrate. According to mining trackers, the global hashrate fell sharply starting Friday and hit a low of approximately 663 exahashes per second (EH/s) by Sunday—a level not seen in seven months. This represented a significant drop from levels around 854 EH/s. The Hashrate Index estimates that the US supplies nearly 38% of worldwide mining power, explaining why disruptions in the country show up so rapidly in global totals.

However, the recovery was just as swift. Within about a day, as weather systems moved on and crews worked to restore normal operations, the network hashrate climbed back toward the 854 EH/s range. This volatility underscores the concentrated geographic footprint of Bitcoin mining and its sensitivity to local events. While the temporary drop raised questions about short-term network security and miner revenue, the rapid rebound highlighted the industry’s operational resilience and the transient nature of the disruption.

The operational curtailment had a direct and severe impact on the daily Bitcoin output of major publicly traded mining companies. Data compiled by market trackers and highlighted by analytics firm CryptoQuant showed dramatic declines. Marathon Digital (MARA), which sometimes mines “solo,” saw its daily production fall from 45 Bitcoin to just 7. Similarly, Iris Energy (IREN) moved from 18 to 6 coins. Other firms like Riot Platforms (RIOT) and CleanSpark (CLSK) also reported significant reductions, with Riot’s output dropping from 16 to 3 Bitcoin.

These figures, shared by analysts like Julio Moreno, illustrate the immediate financial impact of grid-stabilization measures on miner revenues. The event served as a real-time stress test, revealing how dependent these companies’ daily yields are on continuous, uninterrupted power—a dependency that can be voluntarily suspended to support broader community infrastructure during emergencies.

Despite the significant disruption to mining infrastructure, the Bitcoin market exhibited notable resilience. Based on reports, Bitcoin traded around $88,300 through the period, with price swings linked to both the weather event and wider geopolitical strains. The market had previously seen lifts toward $96,000 during episodes of geopolitical tension, while other stretches brought softer prices. The temporary hashrate dip did not trigger a major crash in market value, suggesting traders viewed the event as a short-term operational issue rather than a fundamental threat to the network.

The incident carries broader implications for the crypto mining industry. It validates the concept of miners as a flexible, demand-response asset for power grids, a role that could become increasingly valuable. However, it also exposes a critical vulnerability: the heavy concentration of hashrate in specific geographic regions, like the US Southeast and Texas, makes the global network susceptible to localized climate and infrastructure events. As noted by entities like Abundant Mines and the Energy Information Administration, the concentration of mining in storm-prone areas means such disruptions may not be isolated occurrences, posing ongoing considerations for network security and energy policy.