Snow storm for US make miners comot offline — Bitcoin hashrate drop 12%, mining revenue don fall
One heavy US winter storm make plenti big Bitcoin mining operations for turn power off so dem fit manage grid and protect equipment, and na im cause sudden about 12% drop for global Bitcoin hashrate — na di biggest single-day fall since China ban mining for 2021. CryptoQuant data show say network hashrate commot reach about 970 EH/s (the lowest since September 2025). Daily mining revenue fall from about $45M on Jan 22 to year-low near $28M inside two days, later e climb small to about $34M but still below recent averages. Public miners report daily BTC output drop from 77 to 28 BTC, while non-public miners output fall from 403 to 209 BTC; on 30-day rolling basis, public miners lose 48 BTC and non-public miners lose 215 BTC — na the biggest drops since mid-2024. CryptoQuant Miner Profit & Loss Sustainability Index drop to 21, the weakest since Nov 2024, show say many miners dey face financial stress even with recent difficulty drops. If hashrate remain low, e fit make mining difficulty drop further, wey go give small relief to remaining miners but mean short-term revenue and operational pressure. Keywords: Bitcoin, hashrate, mining revenue, CryptoQuant, mining difficulty, miners.
Bearish
Di immediate effect wey about ~12% drop for global Bitcoin hashrate plus sharp fall for daily mining revenue be say e dey bearish for BTC price for short term. Sudden cut for mining activity dey reduce selling pressure from miners wey dey usually sell the BTC dem mine to cover costs, fit make am neutral-to-bullish; but the data show say miner operations and profitability dey under strain (Miner P&L Sustainability Index dey 21) and production losses for 30-day basis plenty. That combination dey increase upside risk from later difficulty reductions (wey go ease margins for the miners wey remain) but e still signal say operations dey stressed, fit make miners liquidate holdings or delay reinvestment — both na bearish. Historically, big fast hashrate shocks fit cause volatility as market people dey reassess miner behaviour, revenue flows, and network security. For medium term, if difficulty adjust down and miners resume operations without big liquidations, the bearish pressure fit calm down or reverse; if miner stress force asset sales or capacity shutdowns to continue, the bearish impact fit last. Overall, expect short-term downward price pressure and higher volatility, with medium-term direction depending on difficulty adjustments and miners’ balance-sheet responses.