Bitcoin mining power sees short-term drop as rainy season ends in China

posted 9 months ago
The computing power on the Bitcoin network has seen a fallback as the summer rainy season trails off in China. Some hydropower stations in China’s Sichuan province – estimated to account for 50% of Bitcoin’s global computing power – no longer have the capacity to generate enough energy to support mining activities.

Miners without sufficient hydropower supply would have to shut down their operations or relocate to other provinces like Xinjiang or Inner Mongolia, where mining farms have a more stable, but more expensive, power supply generated from fossil fuel plants.
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