New CryptoQuant data shows how January’s US winter storm disrupted Bitcoin mining as operators curtailed power use amid grid stress.
New data is providing a clearer picture of how January’s US winter storm affected Bitcoin mining operations, showing that daily production among publicly traded miners dropped sharply during the disruption.
The storm swept across large parts of the continental United States, prompting miners to curtail operations amid grid stress, snow, ice and extreme cold, and highlighting how closely mining activity is now tied to energy market conditions.
Daily production among publicly traded miners tracked by CryptoQuant typically averaged between 70 and 90 Bitcoin (BTC) in the weeks leading up to the storm, before falling to roughly 30 to 40 BTC per day at the height of the disruption, according to data shared by CryptoQuant head of research Julio Moreno.
