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28 May 2020

Bitcoin Miners Halt Operations as Rainstorm Triggers Mudslides in China

Bitcoin Miners Halt Operations as Rainstorm Triggers Mudslides in China

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Some mining facilities in Wenchuan have been destroyed, with bitcoin mining machines now being covered by mud, according to an on-site video clip shared with CoinDesk by one mining farm operator that did not want to be named.

It’s not clear at this stage how many bitcoin miners in total may have been affected as they are widely scattered.

Based on data from mining pool, bitcoin’s 24-hour average hash rate has dropped from around 78 exahash per second on Monday and Tuesday to about 73 exahash on Wednesday, while its three-day and seven-day averages have both remained steady around 74 exahash since Monday.

The cheap hydroelectricity resulted from the summer rainy season in Sichuan has been attracting bitcoin miners, which recently pushed bitcoin’s total hashing power to a new high, although excessive rainfall now appears to be also an operational risk.

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Litecoin (LTC) Price Analysis: Facing Key Hurdles Near $45
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