The hashrate of leading Bitcoin mining pools fell sharply amid electricity supply problems following explosions and flooding at coal mines in several Chinese provinces, according to journalist Colin Wu.
The hashrate of Bitcoin mining pools plummeted in 24 hours. Antpools fell by 24.5%, https://t.co/1YRYr58dLy fell by 18.9%, Poolin fell by 33%, Binance pools fell by 20%. The reason is that Northwest China is undergoing a complete blackout for safety inspections. pic.twitter.com/vaWgYsMEFH
— Wu Blockchain (@WuBlockchain) April 16, 2021
According to Xinhua News Agency, the first incident occurred in late March: methane exploded at a coal mine in Shanxi province. On 9 April, a gas emission occurred during coal mining in Guizhou, and on 10 April a mine flooded in the Xinjiang Uygur Autonomous Region.
Dovey Wan, managing partner of Primitive Ventures, said the hashrate fell by nearly 30% due to electricity outages caused by comprehensive safety checks.
Xinjiang is facing a major power outage due to a coal mine explosion
Bitcoin hashrate drops almost 30% instantly lol
— Dovey “Rug The Fiat” Wan🪐🦖 (@DoveyWan) April 16, 2021
According to BTC.com, in the last 24 hours hashrate for Antpool fell by 22.53%, for F2Pool by 10.51%, for BTC.com by 20.80%, and for Poolin by 35.12%. The figures for Binance Pool and OKEx Pool stood at 21.94% and 25.95%, respectively.
On 15 April, the Bitcoin mining difficulty recalculated — the metric rose by 1.92% to 23.58 T.
In August 2020, heavy rains in Sichuan province led to a decline in the hashrate of leading mining pools. Companies had to switch off equipment and evacuate staff.
Earlier in April 2021, the total computing power in the network reached a record high of 179.4 EH/s.
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