Floods in Sichuan caused partial mining factory flooded and Bitcoin’s entire network suddenly falls

Recently, continuous storms hit Sichuan Mianyang, Guangyuan, Chengdu, Aba, Meishan and other places, causing floods. The collapse of the mountains and the rapid rise of the river have caused local hydropower and communication facilities to suffer from various degrees of damage. At the same time, Sichuan Aba and other areas have become a concentrated area of cryptocurrency mines due to the abundant electricity and electricity tariffs. In this flood, some mines have not been spared, and tens of thousands of mines have been flooded. Drowning, the loss is heavy.

According to statistics, 70% of the world’s cryptocurrency mining machines are in China, while Sichuan mining machines account for 70% of the country’s total. Sichuan is the center of the world’s mines. Just before the flood disaster occurred, there were still a large number of mining machines hosting orders from the Sichuan mine. From the photos, these mines are generally built in the mountains and rural areas, and the housing is relatively simple. The flood disaster struck, and the mine had no power in the face of a strong natural disaster.

At present, there are no specific data on the loss of Sichuan mines. However, from the perspective of the area affected by the disaster, at least tens of thousands of mines have been flooded. From the photographs, these miners are apparently scrapped and can hardly be repaired.

Golden Financial found that by looking at Bitcoin’s entire network, it found that since June 24, the whole network’s computing power has dropped significantly. On Jun. 27, the whole network’s computing power reached the lowest value in the past 20 days, which is consistent with the time of the flood disaster in Sichuan. Therefore, the reasons for the decline of the entire network’s computing power may be related to flood disasters.

Original from:VipInvestor » Floods in Sichuan caused partial mining factory flooded and Bitcoin’s entire network suddenly falls

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