The Sichuan province of China has been called the "Bitcoin mining capitol" of the country - and it's just been hit with harsh weather, heavy rains - followed by major flooding.Initial reports out of the region are claiming losses of "tens of thousands" of mining rigs, worth millions in hardware and even more in lost mining fees.According to Chinese news outlet Jinse ()...The good news is, the loss on mining power hasn't had a measureable effect on the Bitcoin network overall - there has been no noticeable decline in transaction confirmation speeds or hash rates.It is estimated up to 70% of Bitcoin miners are located in China, where low cost coal and hydraulic power gives miners a large cost advantage.