I recently saw that Bitcoin mining in the United States took a pretty big hit from the January winter storm. Miners had to halt their operations because the power grid was at its limit, and there was also snow, ice, and extreme cold all around.

The interesting thing is to see how the storm directly impacted the numbers. According to CryptoQuant data, before the worst hit, the daily production of large mining companies was around 70 to 90 bitcoins. But when the Bitcoin storm reached its most critical point, that plummeted to just 30 or 40 bitcoins per day. The change is quite drastic.

This makes clear something that many don’t consider: Bitcoin mining heavily depends on the energy market. When there are issues with the power grid, miners are directly affected. The storm was a reminder that the sector is vulnerable to these extreme weather events.