Bitcoin Hashrate Falls 12% After US Winter Storms Hit Miners

Core Insights - Bitcoin mining activity has experienced its most significant decline in over four years due to severe winter storms in the US, leading to reduced production and revenues [1][8] Network Hashrate - The total network hashrate has decreased by approximately 12% since November 11, marking the steepest decline since October 2021, with the current hashrate around 970 exahashes per second, the lowest since September 2025 [2][3] Mining Revenue and Output - Daily Bitcoin mining revenue fell from about $45 million on January 22 to a yearly low near $28 million, with a modest recovery to approximately $34 million, still below recent averages [4] - Production from the largest publicly traded miners dropped from roughly 77 Bitcoin per day to just 28 Bitcoin, while output from other miners fell from about 403 Bitcoin to 209 Bitcoin, indicating a significant reduction in total network output [5] - Output from privately held miners decreased by 215 Bitcoin, the largest drop since July 2024, highlighting the widespread impact of the disruptions [6] Miner Profitability - Profitability in the Bitcoin mining sector has reached its lowest level since November 2024, with the Miner Profit and Loss Sustainability Index falling to 21, indicating severe stress across the industry as revenues fail to cover operating costs for an increasing number of miners [7]