Bitcoin Mining Blaze: Fire Strikes Greenidge Site Running NYDIG Hardware | Bitcoinist.com

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure Fire knocked out power and halted bitcoin mining at Greenidge’s Dresden, New York site after an electrical failure sparked a blaze last week.

Related Reading: Strategy Stock Crashes 60% — But Michael Saylor Refuses To Step AsideAccording 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.

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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.

Related Reading: Crypto Regulation Heats Up: Senate Sets December Vote On Market Structure BillStakeholders 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.

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