Cold fishing bait is one of the fishing Baits added in the Mistlands update. It can be used to catch Pike and Tetra, but Tetra spawns only in unfrozen lakes in Frost Caves, which are extremely rare to find. It can be attached to the Fishing rod by right-clicking this bait in the inventory. 1 Cold fishing bait is removed from inventory when the fishing line is cast. Bait is consumed when a fish is hooked (irrespective of whether the fish is ultimately caught), and is permanently lost if the play
Bait, Valheim Wiki
Steam Community :: Guide :: My Attempt at a Valheim Fishing Guide, Updated 11-16-2023
I don't use a fishing rod and yet I have plenty of fish meat in storage. : r/valheim
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