Bitcoin Mining Production Plunged 50% During January US Winter Storm

January's severe winter storm significantly disrupted Bitcoin mining operations across the United States, with new data revealing the extent of production losses among major publicly traded companies.

According to CryptoQuant research, daily Bitcoin production among tracked miners typically ranged between 70 and 90 BTC in the weeks before the storm hit. During the peak of the weather disruption, output fell dramatically to approximately 30-40 BTC per day ^[1].

The extreme cold, snow, and ice prompted mining facilities to voluntarily reduce operations amid power grid stress, demonstrating the sector's increasing dependence on energy market conditions. Production levels began recovering as weather improved, indicating the curtailments were temporary measures ^[1].

The affected companies include Core Scientific, Bitfarms, CleanSpark, MARA Holdings, Iris Energy, and Canaan, with several maintaining substantial US-based operations ^[1].

This disruption arrives during an already challenging period for the mining industry. Operators are contending with declining Bitcoin prices, rising operational costs, and compressed margins following last year's halving event. Industry observers have characterized current conditions as among the most difficult ever faced by miners, with pressures expected to intensify through 2026 ^[1].

Many mining companies are now exploring artificial intelligence and high-performance computing as alternative revenue sources to offset these challenges ^[1].