Floods in Sichuan Heavily Damage Major Crypto Mining farm Beesy Mining

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Recently, continuous storms hit Sichuan Mianyang, Guangyuan, Chengdu, Aba, Meishan and other places, causing floods. The collapse of the mountains and the rapid rise of the river have caused local hydropower and communication facilities to suffer from various degrees of damage. At the same time, in areas such as Sichuan and Aba, which are rich in electricity and electricity, these areas have become a centralized area for cryptocurrency mines. In the flood, some mines were not spared, and tens of thousands of mining machines were flooded. Inundation, heavy losses.

According to statistics, 70% of the world’s cryptocurrency mining machines are in China, while Sichuan mining machines account for 70% of the country’s total. Sichuan is the center of the world’s mines. Just before the flood disaster occurred, there were still a large number of mining machines hosting orders from the Sichuan mine. From the photographs, these mines are generally built in deep mountain villages, and the housing is relatively simple. The flood disaster struck, and the mines had no recourse in the face of powerful natural disasters.

At present, there are no specific data on the loss of Sichuan mines. However, from the perspective of the area affected by the disaster, at least tens of thousands of mines have been flooded. From the photographs, these miners are apparently scrapped and can hardly be repaired.

Beesy Mining

Golden Financial found that by looking at Bitcoin’s entire network, it found that since June 24, the whole network’s computing power has dropped significantly. On Jun. 27, the whole network’s computing power reached the lowest value in the past 20 days, which is consistent with the time of the flood disaster in Sichuan. Therefore, the reasons for the decline of the entire network’s computing power may be related to flood disasters.

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