A downpour in China leads to a 10–20% drop in hashrate of the main Bitcoin mining pools

Over the past week, heavy precipitation has fallen in the Chinese province of Sichuan. The largest Bitcoin mining pools were affected, and this triggered a decrease in the hash of the cryptocurrency. Recently, its indicator in the BTC network reached a new record level

Thunderstorms in Sichuan significantly reduced the hash rate

Reports indicate that this area accounts for more than 50 percent of the total computing power of the Bitcoin network, as a huge number of miners migrate to the region due to lower electricity rates. However, the flooding that escalated a few days ago forced some bitcoin miners to temporarily stop working. According to Coinmetrics, a data provider for the crypto asset market, the hashrate fell to 105 EH / s, from 140 EH / s.

According to Poolin CEO Kevin pan, as a result of the incident, there were difficulties with Internet and telecommunications access in most areas. Besides, many are experiencing power outages as hydroelectric plants have been deployed to help manage a large-scale natural disaster.