A severe winter storm sweeping across the United States has triggered a significant, temporary reduction in Bitcoin’s network computing power. Foundry USA, one of the world’s largest mining pools, saw its contributed hashrate drop by approximately 60% since Friday as its member miners curtailed operations in response to grid stress from Winter Storm Fern.
According to reporting from industry publication TheMinerMag, Foundry USA’s hashrate decreased by nearly 200 exahashes per second (EH/s). This curtailment has also slowed the network’s average block production time to around 12 minutes, up from the target of 10 minutes. Despite this drop, data from Hashrate Index shows Foundry USA still commands about 198 EH/s, representing roughly 23% of the total global mining pool hashrate.
Bitcoin Miners as Grid Balancers
This event highlights the evolving role of Bitcoin miners as flexible, controllable electrical loads. Mining operations can rapidly adjust their energy consumption—powering down during periods of high grid demand or low supply, and powering up when there is excess generation. This capability makes them valuable assets for grid operators seeking to maintain stability, especially during extreme weather events.
During the current storm, which has brought snow, ice, and freezing rain across the Southeast, Northeast, and Midwest, grid operators have likely requested or required large load centers, including mining facilities, to reduce consumption. This prevents infrastructure overload and helps avoid the dangerous consequences of frequency instability, which can damage equipment and cause widespread outages. The Weather Channel reports the storm system spans approximately 1,800 miles, with over 1 million customers already experiencing power losses.
The ability for miners to respond to grid signals is becoming a standard part of energy infrastructure planning in several U.S. regions, particularly in Texas. This responsive load characteristic transforms what was once seen as an energy-intensive industry into a potential grid reliability resource, capable of both absorbing surplus renewable energy and providing critical demand response during emergencies.
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
