Too much of a good thing
After several days with an excessive downpour, land and mudslides forced mining farms to pause operations. Over flooding in hydropower plants has also caused serve set-backs for bitcoin miners in the area, as well as serious damage to property and hardware.
According to 8btc, miners will have to cover their own loses due to insurance policies not covering such damages.
Mining Pool, Poolin, he fourth-largest mining pool, has posted video footage on their twitter of a local mining farm that was completely destroyed by mudslide earlier today.
A variety of mining farms located across a vast area by the prefectures of Aba, Garza, and Lingshand have been affected. It is unclear exactly how many farms are affected due to the legal legitimacy of some of the farms.
According to data from btc.com This has caused bitcoins 24-hour average hash rate to drop from 78 exahash per second, down to as low as 73 per second.
It is unclear when the situation will be fixed and the weather reports claim that it will continue to rain over the next couple of days, so it is unclear exactly when the power supply will be back up.
The extent of the damages is yet to be determined. Bitcoin mining is designed to be adjusted every 2016 blocks, which translates to 14 days. There are 11 days remaining until the next cycle occurs.