News Snapshot:
Major Chinese bitcoin mining pools are each seeing daily hashrate drops of between 10% and 20% following continuous rainstorms in Sichuan. China’s southwestern Sichuan province, a mountainous region that is estimated to have over 50% of Bitcoin network’s total computing power, has been hit by heavy rainstorms since last week, which peaked over the last two days. The heavy rainstorms have caused electricity outages in parts of the region as hydro-plants stop generating power to help discharge the floods. Some counties are also experiencing telecommunication and internet breakdowns, said Kevin Pan, CEO and co-founder of PoolIn. As result, impacted bitcoin...
