It was built in 1959 as venue for ice hockey, figure skating competitions, and the opening and closing ceremonies of the 1960 Winter Olympics.

From 1963 to 1983, the Squaw Valley ski area operator appealed regularly to the state of California to have the arena torn down to provide additional parking.

The plan had always been that heat generated from the ice chilling equipment in the arena traveled to the ceiling, warmed the uninsulated roof, and melted the snow.

With the energy conservation measures in place, the snow did not melt due to waste heat and the building collapsed under the weight.

Although gone, Blyth Arena is remembered as playing a major role in Olympic ice hockey history, and to a lesser extent, in Olympic figure skating history, where the host country won the men's (David Jenkins) and women's (Carol Heiss) individual titles.

In addition to its use by the Olympics, the arena was for several years a site for the Worldwide Church of God's annual Feast of Tabernacles.