Bitcoin’s Hashrate Affected by Floods in China
The very recent drop in Bitcoin Hashrate has been credited to a flood that happened in China. This particular area affected by the flood was responsible for 70 percent of Bitcoin mining. As per a report, China has been a solid supporter of Bitcoin mining with numerous mining exercises operated regardless of the strict warnings and regulations imposed by the government.
Western Sichuan area, a place which represents 70 percent of mining yield was to a great extent affected by the flood. In spite of the report, there has not been any information to access the lost. From photographic confirmation, mining was extremely influenced by this occurrence.
“However, from the perspective of the area affected by the disaster, at least tens of thousands of miners have been flooded,” according to a report. This has come as a very big blow to the miners in the area as there have been huge losses in terms of mining equipment which are destroyed beyond repairs.
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