2019-10-28 12:00 |
A former regulator in China has argued that Sichuan – a bitcoin mining hub – should study how to remain attractive to crypto-related business.
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The cumulative hashing power dedicated toward Bitcoin took a hit this week after extensive flooding of mining centers in Sichuan, China. Eric Meltzer, a partner at China-based blockchain focused fund INB, published a tweet on June 29, 2018, depicting mining hardware destroyed by flooding within the Sichuan region: Rumors that a huge flood in Sichuan took […] The post China Floods Wipe Out Crypto Mining Farms, Bitcoin Hashrate Drops appeared first on CryptoSlate.
2018-7-2 17:00 | |
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Cryptocurrency mining activities have been growing all over the world during the last years. China has became one of the main hubs for virtual currency operations in the world. But due to heavy floods in the Sichuan province, a major cryptocurrency mining operation has been heavily damaged by the water. The information has been reported […]
2018-7-2 23:57 | |
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Bitcoin network hashrate appeared to dip June 27, coinciding with reports floods in China had inundated and destroyed “tens of thousands” of miners. Machines ‘Beyond Repair’ According to local Chinese media reports, the floods occurred principally in the country’s western Sichuan province, an area which accounts for around 70% of China’s mining output.
2018-7-1 19:00 | |
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Bitcoin’s hash rate plummets to roughly 91 EH/s as Sichuan miners close up shop.
The Bitcoin network has re-adjusted its mining difficulty, slashing it by 16 percent, the second-largest negative change in the platform’s history, GlassNode data on Nov 3 shows. The Bitcoin mining difficulty now stands at 16.
As the end of 2019 approaches, Coinshares Research has published its bi-annual mining report that contains informative research and observations about the bitcoin mining industry. Since Coinshare’s last report published in June, BTC’s hashrate grew by 50 exahash per second (EH/s) and the firm believes a decent portion of the power stems from China.
Sichuan province in China is well known for being a mining hub, thanks to the abundance of clean hydroelectricity available in the region at dirt cheap prices. However, the availability of cheap clean energy has also made the province a growing hub for illegal mining activities.
Rampant flooding in China’s Sichuan province has had a catastrophic effect on some of the world’s leading bitcoin mining operations. The post Major Flooding Disrupts Chinese Hydro Power, Bitcoin Mining appeared first on Bitcoin Magazine.
Bitcoin miners in China already have to deal with a government that wants to stamp out their industry. Add to that natural disasters such as flooding and landslides, and they have a full plate to contend with.
