Sichuan floods caused some mining farms to be flooded, and the Bitcoin network computing power dropped sharply

Recently, Mianyang, Guangyuan, Chengdu, Aba, Meishan and other places in Sichuan were hit by continuous heavy rains, which caused floods. Due to landslides and surging rivers, local water and electricity and communication facilities were damaged to varying degrees. At the same time, due to the abundance of hydropower and low electricity prices in Aba, Sichuan, these areas have become the concentration of cryptocurrency mines. In this flood, some mines were not spared, and tens of thousands of mining machines were submerged by the floods, causing heavy losses.

Data shows that 70% of the world's cryptocurrency mining machines are in China, and Sichuan mining machines account for 70% of the country's mining machines. Sichuan can be said to be the center of the world's mining farms. Just before the flood disaster, Sichuan mining farms were still receiving a large number of mining machine hosting orders. From the photos, these mining farms are generally built in rural areas deep in the mountains, and the houses are relatively simple. When the flood disaster hit, the mining farms were powerless in the face of the powerful natural disaster.

There is currently no specific data on the losses of Sichuan mines, but judging from the area of ​​the affected area, at least tens of thousands of mining machines were submerged by the flood. Judging from the photos, these mining machines have obviously been scrapped and are almost impossible to repair.

Golden Finance checked the Bitcoin network computing power and found that the network computing power has declined significantly since June 24, and reached its lowest value in nearly 20 days on June 27, which coincides with the time of the Sichuan flood disaster. Therefore, the reason for the decline in the network computing power is likely related to the flood disaster.