It’s actually an old technique to increase the ability to hold the breath. The hyperventilation clears carbon dioxide from the system (hypocapnia). That’s what the buzz is.
Never ever ever ever ever do this underwater or you have a serious risk of death: https://en.wikipedia.org/wiki/Freediving_blackout#Shallow_wa...
Hof did not warn of this at the time, though I believe he does now after someone died using the technique while swimming.
As for the cold resistance, Hof’s twin brother Andre displayed the same physiological traits that Hof has, despite not having undergone the same training: https://journals.plos.org/plosone/article?id=10.1371/journal...
The one interesting thing I have seen related to Hof is that he apparently was able to suppress the immune response to an endotoxin. Though it would be interesting to see that same study done on his twin.
This is a reasonably good article: https://www.pepijnvanerp.nl/2016/01/wim-hof-method/#andre
I think Hof is well intentioned, sincere, a poor communicator, and prone to both mystical thinking but also interested in scientific verification.
Pranayama is at least a thousand years old and encompasses all of this. And many of the foundational texts refer to even older practices.
https://explore.wimhofmethod.com/wp-content/uploads/ebook-th...
Edit: The PDF is actually a bit out of date, the more recent studies are summarized here: https://www.wimhofmethod.com/science
The breathing technique which is closest to Wim How is that of Tummo. You can find videos of this on YouTube:
If he’s not teaching the bandhas then the technique really is just bhastrika with retentions. It’s a totally great practice, but I’d say it’s just the beginning step in the path of pranayama practice.
Before, I can do about 40 seconds held on an out breath, after, about 2:40. That’s kinda interesting.
I’d also recommend trying it if you’re a meditator. Do a WH session first, then sit. It’s really great for finding mind space: a bit buzzy, a bit like a natural high, but for me it meshes pretty well with a breath following meditation.