Heavy rains in China cause a river in the Sichuan area to overflow and wipe out a Bitcoin mining farm.
It is known by all that in China, there is a period of time where significant rainfalls usually occur, which generate overflows and various problems. This usually has little to do with the hardware, except for 'carelessness' by some technology company. But in this case, significant rainfall in the Sichuan region has caused one of the rivers to overflow their banks and affect a Bitcoin mining farm, causing a notorious drop in the cryptocurrency's hashrate.
River flood destroys a Bitcoin mining farm.
Logically, the local media have echoed this information and it has quickly jumped to international media, due to the impact of the images. We can clearly see hundreds of ASICs, graphics cards, motherboards, power supplies, processors and other components lying on the ground covered in mud. We are talking about millions of euros in hardware.
It has not only affected the farm hardware, but also the UPS energy backup system and the entire electrical installation, causing the wiring to have to be changed. The farm, installed near the river to obtain energy from hydroelectric turbines, has been seriously damaged by the flooding of the river.
Despite the 30% drop in the Bitcoin hashrate, it seems that things are back to normal and they would already be recovering part of the lost power. Perhaps this disaster comes at the best time for NVIDIA, who could benefit from a large order for graphics cards, discharging much of the stock of current graphics.
Some may think that this would mean stopping, but far from reality. They try to recover the machines that they can and those that cannot, to the trash and buy new machines. A mining farm is very profitable and it sure pays to re-invest millions in buying new hardware.
