According to Chinese media reports, the flood destroyed a major producer of mining cryptocurrencies in Sichuan province.
June 27-28 in five provinces of China experienced heavy rains that led to flooding. As reported by a member of the state news Agency “news Service” China’s Ecns, damage affected 48 cities and districts, affecting more than 250 thousand inhabitants of the regions.
Under the impact of the disaster hit and a major mining center in Sichuan province, said Golden Finance. According to the newspaper, has suffered “tens of thousands” of devices for cryptocurrency mining. Apparently, the equipment is lost forever, says Golden Finance.
In the Chinese provinces of Sichuan, Inner Mongolia, Yunnan and Xinjiang Uygur Autonomous region is located near major centers for mining cryptocurrency. They attracts cheap electricity and relatively cold climate. It is believed that in these regions accounts for up to 70% of the compute power of the bitcoin network.
Some publications, including Golden Finance, drew attention to the sharp drop in network hash rate yet BTC on June 27 of 43 TH/s to 30 TH/s, it is connected with the destruction caused by the floods. However, on 28 June, the indicator came back on 39 TH/s.
We will remind, earlier it was reported that by the end of the current year electricity consumption by the mining of cryptocurrencies could reach 140 TWh or 0.6% of world energy consumption.