Bitcoin's hashrate has plummeted as major US-based mining pools, including Foundry USA and Luxor, reduced operations due to severe winter storms. The Arctic cold snap, which brought subfreezing temperatures across the United States, led to a significant drop in hashrate, with Foundry USA's hashrate falling from nearly 340 EH/s to around 242 EH/s, and Luxor's from 45 EH/s to 26 EH/s. The overall Bitcoin network hashrate decreased by approximately 30%, equating to a reduction of about 260 EH/s. The extreme weather has strained power grids, prompting conservation requests and causing power outages that affected over a million Americans. The situation has highlighted the role of Bitcoin miners in grid management, with some miners participating in demand response programs to alleviate grid pressure. Meanwhile, the financial strain on miners continues, with Bitcoin prices subdued and energy costs rising, leading some operators to explore alternative business models, such as Bitfarms' shift towards artificial intelligence and high-performance computing.