Skip to main content

Bitcoin Mining Blaze: Fire Strikes Greenidge Site Running NYDIG Hardware

Fire knocked out power and halted bitcoin mining at Greenidge’s Dresden, New York site after an electrical failure sparked a blaze last week.

According to reports, the incident forced the plant to shut down its generation and data center operations, temporarily stopping both company-run rigs and machines operating for clients.

Electrical Switchgear Failure Reported

Based on reports, an electrical switchgear malfunction on November 23, 2025 started the fire and triggered automatic safety systems that de-energized the facility.

The Dresden plant, which has about 106 megawatts of generation capacity, was taken offline immediately to prevent further damage.

Company filings and local updates said none of the hosted mining machines — including those co-located for NYDIG — suffered material damage during the event.

Emergency crews responded and the fire was contained, but the outage left the site idle while technicians inspected equipment and repaired infrastructure.

Impact On Mining Operations And Clients

Reports have disclosed that the shutdown means lost hashing time for every miner at the site. For co-hosting customers like NYDIG, downtime translates to missed block rewards until the machines can be safely powered up again.

Mining firms typically earn revenue only while rigs run, so even a short stoppage can cut into weekly receipts. Industry observers noted that the Dresden plant is a major part of Greenidge’s US footprint, so the pause affects a sizable share of the company’s output.

Bitcoin Mining Economics Under Pressure

Mining profitability is under strain across the board as network difficulty climbs and competition increases. Based on recent market data, margins are tighter than in prior cycles, making every hour of offline time more costly.

Investigation And Recovery Timetable

According to the company, crews are working to restore service and Greenidge expects a return to normal operations within a few weeks.

That timetable is provisional and tied to the results of inspections and replacement of damaged switchgear. Regulators and insurers will likely review the incident, and an internal investigation is expected to clarify the cause of the failure and whether any maintenance gaps contributed.

Stakeholders will watch closely for confirmed repair schedules and any disclosures about lost bitcoin production or costs tied to the outage. Co-hosts will also monitor whether the incident prompts changes to safety practices or contract terms for hosted rigs.

Featured image from FMC Fire, chart from TradingView



from Bitcoinist.com https://ift.tt/wpthoFL
Labels:

Comments

Post a Comment

Popular posts from this blog

Bitcoin ETFs Post Second Straight Week Of $500 Million Outflow — Details

The US-based spot Bitcoin ETFs (exchange-traded funds) recorded their second consecutive week of significant outflows over the last five-day trading period. This recent run of disappointing performances reflects the ongoing shift in investor sentiment in the United States. Over the past year, strong inflows into the US Bitcoin ETF market have constantly been associated with positive action for the BTC price. Fittingly, the price of Bitcoin has been consolidating over the past few weeks, struggling to pick up any real momentum. Bitcoin ETFs Record Fourth Consecutive Outflow Day According to the latest market data , the US Bitcoin ETFs registered a total daily outflow of $62.77 million on Friday, February 21. This latest round of withdrawals marked the fourth straight day (and the eighth day in the last nine trading days) that the crypto-based products would witness a net capital outflow. The Grayscale Bitcoin Trust (with the ticker GBTC) accounted for a larger percentage of Friday’...
Post a Comment
Read more

Bitcoin Goes Official: Texas Becomes 1st US State With BTC Reserve

Everything is big in Texas, many would say. Today, the state is looking past its current state of finances by adding Bitcoin to its coffers–and making things bigger in terms of its economic implications. Texas became the first US state to establish a crypto reserve . On March 7, 2025, legislators passed Senate Bill 21, which gives the green light to the state to direct public funds toward Bitcoin and other digital assets. The action has elicited both support and concern, with some viewing it as a prudent financial hedge and others warning of potential pitfalls. A Push For Bitcoin In The Lone Star State For months, Texas has been seeing increasing favor for the idea of a Bitcoin reserve. Senator Charles Schwertner introduced SB 778, a measure that proposes establishing a strategic stockpile. Including the top crypto asset into the state’s financial reserves was meant to help cushion inflation and economic uncertainty. Texas officials, especially Lieutenant Governor Dan Patrick, wh...
Post a Comment
Read more

Liczba milionerów kryptowalutowych wzrosła o 40%. Rynek przekracza 3,3 biliona dolarów

Rozwój rynku kryptowalut widać również bo liczbie osób, których portfel kryptowalutowy przekroczył milion dolarów. Według najnowszego raportu Henley & Partners, liczba inwestorów posiadających majątek przekraczający milion dolarów w cyfrowych aktywach wzrosła o 40% w ciągu ostatniego roku. Aktualnie na świecie jest już 241 700 milionerów, jeśli chodzi o waluty cyfrowe. Wzrost ten zbiegł się z historycznym momentem, gdyż w połowie 2025 roku kapitalizacja całego rynku kryptowalut przekroczyła 3,3 biliona dolarów . Bitcoin wciąż liderem wzrostów Największy udział w tworzeniu nowych fortun ma niezmiennie Bitcoin. Liczba posiadaczy portfeli BTC, których wartość przekracza milion dolarów, wzrosła aż o 70% rok do roku i wynosi dziś 145 100 . Jeszcze bardziej imponująco wygląda grupa tzw. Centymilionerów, czyli inwestorów posiadających ponad 100 milionów dolarów w Bitcoinie. Ich liczba wzrosła o 63% , osiągając poziom 254 osób. Co więcej, liczba miliarderów BTC podskoczyła do 17, notu...
Post a Comment
Read more