ADVERTISEMENT

[email protected]

  • Submit Press Release
  • Submit Guest Post
  • Write for Kryptomoney.com
Latest Crypto News
  • News
    • Bitcoin News
    • Blockchain News
    • Cryptocurrency News
    • Ethereum News
    • Exchanges News
    • Regulations News
  • Price Analysis
    • Bitcoin (BTC) Analysis
    • Ether (ETH) Analysis
    • Ripple (XRP) Analysis
    • Litecoin (LTC) Analysis
    • Bitcoin Cash (BCH) Analysis
    • Binance Coin (BNB) Analysis
  • Industry
    • Events
    • Press Release
  • Start Here
  • Advertise
No Result
View All Result
  • News
    • Bitcoin News
    • Blockchain News
    • Cryptocurrency News
    • Ethereum News
    • Exchanges News
    • Regulations News
  • Price Analysis
    • Bitcoin (BTC) Analysis
    • Ether (ETH) Analysis
    • Ripple (XRP) Analysis
    • Litecoin (LTC) Analysis
    • Bitcoin Cash (BCH) Analysis
    • Binance Coin (BNB) Analysis
  • Industry
    • Events
    • Press Release
  • Start Here
  • Advertise
No Result
View All Result
Latest Crypto News
No Result
View All Result
Home News

Rumor: Huge Floods in China Knock Off Bitcoin Mining Centers

Sheenam Khuttan by Sheenam Khuttan
July 2, 2018
in News
0
CHina Floods | Sichuan Floods | China Bitcoin Mining | Mining operations china | Latest cryptocurrency mining updates
0
SHARES
92
VIEWS
Share on FacebookShare on Twitter

Continuous heavy rainfall swept most parts of China this week, affecting thousands of people and causing heavy economic losses, according to the Ministry of Water Resources. But according to Chinese local blockchain and crypto information platform Golden Finance, the industry that has suffered huge damages among others is the crypto mining industry which finds a strong foothold in Sichuan.

This week, Meltzer shared a photograph of a destroyed mining facility showing stacks of ASIC miners that were affected by heavy rain and flood that swept most parts of China over the past few days.

 

The Chinese News Service (ECNS), the second largest state-owned news agency in China, reported:

“From Wednesday to Thursday, heavy rain hit Anhui, Jiangsu, Sichuan, Shandong and Jilin provinces. Caolaoji, Anhui, and Dafengzha, Jiangsu, were the most heavily hit, the State Flood Control and Drought Relief Headquarters said.”

Last week, over Wednesday and Thursday, heavy rain hit Anhui, Jiangsu, Sichuan, Shandong and Jilin provinces according to the State Flood Control and Drought Relief Headquarters said. According to the National Meteorological Centre, heavy rainfall will hit areas including Hubei, Sichuan and Jiangsu provinces over the coming week, and some areas will also see thunderstorms.

Most Bitcoin mining operations are in China. As of late 2017, it is estimated that almost 70 percent of all Bitcoin mining is located in China. In China, specifically Sichuan, a province of China, has been termed as a global Bitcoin mining capital.

More than 20 mining companies and 10,000 Bitcoin miners are located within Sichuan’s Mabian Yi Autonomous County, a cold and mountainous region with just over 215,000 residents and Kangding, a region within Sichuan well known for its natural beauty.

Sichuan provided all facilities that a crypto mining company needed. The region had a downward moving graph of electricity costs and is fairly remote with a limited number of residents having far fewer noise complaints. With a cold climate, very cheap electricity and low population density, Sichuan have transformed itself into global Bitcoin mining hubs.

Devastation on a scale caused by the torrential rainfall in China would normally shut down centralized networks for days, if not weeks. The Bitcoin network has operated as usual, regardless of the flooding.

KryptoMoney.com publishes latest news and updates about Bitcoin, Blockchain Technology ,Cryptocurrencies and upcoming ICO’s.

 

Tags: cryptocurrency mining chinaCryptocurrency NewsLatest Cryptocurrency NewsLatest Cryptocurrency UpdatesMining News
Previous Post

F1 Champion Fernando Alonso Adopts Kodak Blockchain for Image Protection

Next Post

Spain May Implement Blockchain to Improve Country’s Administration

Next Post
Spain | Blockchain | Blockchain in Spain | Partido Popular Spanish party | Partido Popular Blockchain | Blockchain updates

Spain May Implement Blockchain to Improve Country’s Administration

Recent Stories

Is an Altseason Coming? Chainlink (LINK) Hits New Record Highs of $21.40, Polkadot & Cosmos (ATOM) Surge

Is an Altseason Coming? Chainlink (LINK) Hits New Record Highs of $21.40, Polkadot & Cosmos (ATOM) Surge

January 15, 2021
Quickly

Financial Advisor Introduces Petition for the UK Government to Ban Crypto Transactions

January 15, 2021
LTC Price Analysis: Steep Correction on LTC/USD From $186 High, Flare Networks Announces Litecoin Airdrop

LTC Price Analysis: Steep Correction on LTC/USD From $186 High, Flare Networks Announces Litecoin Airdrop

January 15, 2021
Bitcoin

Bitcoin Falls Below $35k Despite the Unveiling of Biden’s $1.9 Trillion Stimulus

January 15, 2021
cryptocurrencies

The Impact Of Cryptocurrencies On The Global Marketplace

January 15, 2021
What Will 2021 Hold for Bitcoin and Crypto? BTC Price Prediction and Events To Watch Out for by Mid-2021

What Will 2021 Hold for Bitcoin and Crypto? BTC Price Prediction and Events To Watch Out for by Mid-2021

January 14, 2021
Trading

PayPal Crypto Trading Volume Climbed $242 In One Day

January 14, 2021
Bitcoin

Government of Pakistani Province Announces Launch of Bitcoin Mining Farms

January 14, 2021
Ethereum

Google Data Reveals “Ethereum” Searches Hit All-Time High

January 14, 2021
BTC/USD

BTC Price Analysis: In a Return Rally BTC/USD Grinds Past $40,000 Amid Grayscale Bitcoin Purchase of $80M

January 14, 2021

Email Subscription

Pages

About Us

Contact Us

Disclaimer

Get Latest Cryptocurrency And Bitcoin News

Privacy Policy

Write for Kryptomoney.com

Category

Events

General

Interviews

News

Price Analysis

Press Release

Sponsored

Information

About Us

Submit Press Release

Submit Guest Post

Contact Us

Social Icons

[email protected]

©KryptoMoney 2019 | Southridge Internet Corp

No Result
View All Result
  • Resource List
  • News
  • Price Analysis
  • Events
  • Press Release
  • Sponsored

©KryptoMoney 2019 | Ess Commerce Private Limited

  • bitcoinBitcoin (BTC) $ 37,383.00 2.47%
  • ethereumEthereum (ETH) $ 1,210.75 1.69%
  • tetherTether (USDT) $ 0.998185 0.12%
  • bitcoin-cashBitcoin Cash (BCH) $ 498.72 1.73%
  • binancecoinBinance Coin (BNB) $ 42.90 3.49%
Our websites require cookies enabled to provide you with an uninterrupted experience. Please continue without changing your setting to receive important notifications.I Agree