An ice storm that hit the US state of Texas has damaged some equipment of local bitcoin mining companies. The companies had to temporarily shut down operations to protect the energy grid, as electricity consumption soared due to the cold temperatures. Due to the severe cold, power cuts have been implemented in some areas, which has had a negative impact on bitcoin mining companies. Can Zhao, chief marketing officer of JDK Capital, said: "Starting from Monday, the power cut time is about 6 hours a day. Compared with usual times, We saw a 25% drop in hashrate on the site.”

Lee Bratcher, chairman of the Texas Blockchain Council, said the hardest hit would be miners with moving containers, "many of which are not designed to withstand winter storms." Argo Blockchain, one of the bitcoin miners in the area, It said weather conditions had severely curtailed its production capacity. In December, the company produced just 147 bitcoins, compared to 198 in November.