Fire knocked out power and halted bitcoin mining at Greenidge Generation’s Dresden site in New York after an electrical failure sparked a blaze last week.
Reports indicate that the incident, which occurred on November 23, 2025, forced the plant to cease generation and data center operations, halting activity for both company-owned rigs and machines operating for clients.
Electrical Switchgear Failure Reported
An electrical switchgear malfunction reportedly initiated the fire, automatically triggering safety systems that de-energized the facility. The Dresden plant, equipped with approximately 106 megawatts of generation capacity, was immediately taken offline to avert further damage.
Company filings and local updates asserted that none of the hosted mining machines — including those co-located for NYDIG — suffered material damage during the event.
A fire just halted operations at Greenidge Generation’s #Bitcoin mining site — a major facility co-hosting rigs for NYDIG. No hardware lost, but the incident reveals a hidden risk: physical infrastructure fragility in the mining stack. #BTC#MiningOps#CryptoInfra#NYBitcoinpic.twitter.com/35sMu2x3le
— ₿itBlitz (@BitBlitz) November 28, 2025
Emergency crews responded swiftly, and the fire was contained; however, the outage left the site idle while technicians conducted inspections and repairs.
Impact On Mining Operations And Clients
The shutdown signifies lost hashing time for every miner at the site. For clients such as NYDIG, this downtime translates to missed block rewards until the machines can be safely powered up.
Mining firms typically generate revenue only while rigs are operational, meaning that even a brief stoppage can significantly affect weekly earnings. Observers noted that the Dresden plant is integral to Greenidge’s operations across the United States, making the interruption a considerable concern for the company.
Bitcoin Mining Economics Under Pressure
Mining profitability is increasingly strained as network difficulty rises and competition intensifies. Recent data indicates that margins are tighter than in previous cycles, making every hour of downtime more costly.
Investigation And Recovery Timetable
According to Greenidge, crews are actively restoring service, with expectations for a return to normal operations within a few weeks. This timeline is tentative and dependent on inspection results and switchgear replacement.
Regulators and insurers are likely to review the incident, while an internal investigation aims to pinpoint the cause of the failure and any potential maintenance gaps that may have contributed.
Stakeholders will closely monitor confirmed repair schedules and any disclosures regarding lost bitcoin production or financial impacts related to the outage. Co-hosts will also keep an eye on whether the incident will lead to adjustments in safety protocols or contract terms for hosted rigs.
Featured image from FMC Fire, chart from TradingView
