Coal mine accidents in China could be behind Bitcoin’s hash rate decline

Recent security incidents at several coal mines in China appear to have impacted the hash rate of bitcoin mining.

In the past two weeks, there have been three safety accidents in coal mines in China’s Shanxi, Guizhou and Xinjiang provinces due to gas explosion and flooding, according to Chinese state media Xinhua.

Recent events in Xinjiang and Guizhou over the past two days have caused 12 deaths and 21 prisoners. The report added that the seriousness of the incidents had attracted a great deal of attention from the relevant authorities.

As a precautionary measure, coal-fired power plants in these regions have also started to self-educate themselves about safety measures and subsequently cut power to large data centers in the region.

While most of the bitcoin mining operations in China are hydropowered in the rainy summer, the majority of them migrate to the northern provinces of Xinjiang and Inner Mongolia during the dry season, which extends from October to May of next year.

The founder of the Chinese bitcoin exchange AEX, which is only 37 degrees on Weibo and also owns bitcoin mining farms in China, said on social media that “large data centers in Xinjiang have basically all been closed to conduct security drills”.

Although the bitcoin mining operations in the region themselves have no security issues, the major coal mine incident in Xinjiang’s Hutubi County has resulted in a power cut, at least for the time being.

“That is appreciated [data center] Operations should resume in about a week, “he added.

In fact, the 24-hour hash rate for large Chinese bitcoin mining pools like F2Pool, Poolin,, Antpool, and Binance Pool has seen a sharp 10% to 35% drop, data from shows .

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