The loss of Chinese miners from the flood is estimated at $ 1 million
Over 63 mil. people affected by summer floods in China
The recent flooding in the Chinese province of Sichuan has led to a sharp decline in the hashrate of the bitcoin network and huge material losses companies.
Heavy rains that started on June 27, led to damage devices for mining cryptocurrencies of the largest Chinese pools, among which BTC.com, AntPool or ViaBTC. So far, the exact number of damaged equipment is unknown, but the preliminary number is estimated at tens thousand ASIC, or about $ 1 million.
Due to the enormous scale of the disaster and massive damage to equipment, the hashrate of the bitcoin network has plummeted. By data site blockchain.com, indicator decreased by about 10% from moment showers start. but significant recession was avoided due to the fact that the computing power of companies is located in different regions.