Bitcoin: Hashrate affected by floods in China?

According to media reports, countless computers in China’s southeastern Sichuan province have been destroyed by massive floods. For the destruction of the hardware very heavy rains are blamed in this area.

Eric Meltzer of the investment group INBlockchain reported that the microblogging service Twitter suffered serious damage in factories in the Chinese province of Sichuan. A photo that Meltzer has shared on Twitter, represents countless destroyed graphics cards and other broken hardware parts that are drenched by the rain. The state news service ECNS reports heavy rains that have wreaked havoc in several cities. The news page Golden Finance speaks of tens of thousands of devices that have recently fallen victim to the flood of water. An official confirmation from the local government is pending.


Observers are now wondering if the flooding caused the sudden drop in the bitcoin’s hashrates. At least from the moment there is a possible connection. Several industry experts, however, assume that the cause should be a combination of the heat wave in Eastern Europe in combination with the tsunami in China. The floods in factories in Sichuan alone did not cause the strong fluctuations in the Bitcoin ecosystem. Another possibility for the decline of the Hashrate is the current Bitcoin course. If this is too low, you have to weigh whether the mining is still worthwhile.

But the natural disaster has not only affected the technology: in the same province, a landslide has buried a complete village in southwestern China. The earth masses (estimated three million cubic meters of earth) came after the heavy rains in motion and buried all villagers among themselves. So far, helpers have hidden 15 dead from the rubble. One could not find another 100 people yet. The flooding also affects the central Chinese provinces of Hunan and Hubei.

Something else threatens the cryptomining in Sichuan: In this area, it comes very often due to the situation to strong earthquakes. In 2008, around 70,000 people died in an earthquake with a magnitude of 8.0. Such shocks cause destruction within a few hundred kilometers.

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