Chinese miners forced to suspend production of Bitcoin. What is the reason?

Rains in China’s Sichuan province caused the formation of a huge number of landslides which had forced local miners to curtail their business. Affected 17 districts of the province, the most affected residents of Wenchuan County. According to local media, the landslides damaged the local electricity network, the victims of the disaster were at least seven people.

What will happen to the miners?

Some mining centers of Wenchuan destroyed and tens worked there ASIC miners are under the layer of dirt. Mining-pool Poolin in your Twitter account shared a video from the crash site. They are seen as the Chinese are trying to get the remains of their equipment after the landslide.

Extremely high rainfall has caused the overflow of the reservoirs, which are used by local hydropower plants. This has led to a decline in their power, and now users of the grid are experiencing a shortage of electricity. The problem was confirmed by the representatives of the energy company Sichuan Minjiang. In their published statement says that the three power companies are entirely stopped, while the rest flooded by high water level.

To calculate the exact loss of the miners is not yet possible. A centers for cryptocurrency mining are scattered throughout the County, an area of over 3200 square kilometers. According pool during natural disasters in China’s total processing power per day for all devices in the network of Bitcoin dropped from 78 to 73 aksaka per second.

Note that Sichuan province is one of the most attractive places to host mining farms. Local hydroelectric power plants provide extremely cheap electricity. Because of this, the province constantly there are new investments — more and more businessmen want to grab yourself a share of the profits from mining Bitcoin. Now the adverse weather conditions become an additional risk.

Read on: Where are the most profitable mine Bitcoin?

Unfortunately, weather forecasters are not able to please the people of the province. According to them, the rains did not subside for at least another few days. All this may negatively affect Hasrat Bitcoin, after all, to save hardware miners will have to disable asik and move them to safer places. Also nobody yet knows how long it will take to restore the normal supply of electricity.

By the way, the web is the main cryptocurrency has already produced more than 85 percent of all bitcoins that will ever exist. Experts admit that with the last production of coins miners will have to restructure their business model and rely on income only transactions. Read more about the situation after the mining of all bitcoins, we wrote extensively in this article.

And to start earning by mining, join a pool 2Miners!


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