Winter Storm Pressure Sends Bitcoin Hashrate Lower as Major US Pools Pull Back

Extreme winter weather and an Arctic cold snap across the United States strained electricity grids, leading several major US-based Bitcoin mining pools to reduce their operations. Pools like Foundry USA and Luxor collectively cut over 110 exahashes per second (EH/s) of hashrate. Foundry USA's contribution dropped by nearly 60% at one point, slowing block production. This hashrate decline coincides with broader financial pressures on miners, including subdued Bitcoin prices and rising energy costs, which pushed miner holdings to historic lows. Experts noted that public miners are structurally set up to act as flexible loads via demand response programs to ease grid strain during such events. While long-term relief may come from initiatives like President Trump's administration's $15 billion emergency power auction plan, miners currently need to focus on securing affordable power and participating in demand response to navigate the challenging environment.

(Source：BeInCrypto)