Altcoin News: A Flood Washed Away a Crypto Mining Farm

August 21, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

A cryptocurrency mining enterprise in the Chinese province of Sichuan was washed away by a flood caused by heavy rains.

The operator of one of the largest Bitcoin mining pools, uploaded two videos on Twitter, one of which captures a raging stream, and the other — “ personnel digging out miners from the mud.”

Molly Zhang, an admin of Poolin’s official Telegram channel, told The Block “that Poolin did not own the flooded mining farm, but some of its customers were using the area’s hosting services”.

Information about the disaster that has befallen the Chinese miners was also confirmed by the co-founder of the 8btc portal. 8btc editor lylian Teng said that a number of mining farms really suffered while noting that the damage was not as serious as in 2018.

The China Daily also reports that the mudflow disrupted electricity supplies in the region, disabled communications infrastructure and caused at least seven deaths.

According to btc.com, the 24-hour Bitcoin hash rate fell from 78 EH / s on Monday, when the cataclysm began, to 73 EH / s on Wednesday. How much the destruction of Chinese mining farms played a role in this is unknown.

Sichuan traditionally attracts miners with cheap electricity, especially during the rainy summer. Last June, it was reported that the flood in Sichuan caused the loss of tens of thousands of cryptocurrency mining devices.

Author: Marko Vidrih