Flood In China Causes 20% Hashrate Loss For Chinese Bitcoin Miners

Sichuan flood (Courtesy: Twitter)
Sichuan flood (Courtesy: Twitter)

China has been in the thick of things for the Covid-19 outbreak across the globe which has brought the world to a standstill. A lot business has been effected due to this situation with a lot of prominent ones shutting shop.

China, however, has a stranglehold in Bitcoin mining but the recent flood has caused loss in the hashrate. It has seen some of the operations being shut at ASIC mining devices. The primary concerns in the areas of China’s Sichuan province has been electricity has caused problem among the miners in the country.

The rain caused flooding and landslides in 17 counties surrounding China’s Sichuan province. Sichuan is dealing with serious flooding because it sits on the upper reaches of the Yangtze River.

“A local mining farm based in Sichuan, China was devastated by the recent heavy rainfall in the region,” Poolin tweeted sharing a video of the situation in August 2019.