A device includes a thermal mitigation system that operates to reduce performance of a component of the device to prevent the device from getting too hot. The system uses a combination of a time-based technique and a temperature-based technique to perform thermal mitigation. The time-based technique refers to using an indication of the device usage as well as the amount of current drawn by the device at any given time to predict an amount of time that the device is to run in a non-reduced performance mode before reaching a target temperature threshold, and an amount of time for the device to run in a reduced performance mode to cool down. The temperature-based technique refers to monitoring the temperature of the device (or a component of the device) and powering off the device in response to detecting that a monitored temperature exceeds a critical threshold temperature.