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Major Chinese Bitcoin Mining Farm Gone in Smoke with $10 Million of Equipment

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Major Chinese Bitcoin Mining Farm Gone in Smoke with $10 Million of Equipment

Major Chinese Bitcoin Mining Farm Gone in Smoke with $10 Million of Equipment.

The images circulated on Twitter with this video that shows this important mining farm burning.

$10 million of Bitcoin BTC mining equipment lost, gone up in smoke with this Chinese Bitcoin mining farm.

We do not know the exact location of this bitcoin mining farm gone up in smoke except for a message on Twitter mentioning a big datacenter Innosilicon.

In the same period of time that the fire of this Bitcoin mining farm lasted, people observed a slowdown of the Bitcoin blockchain network.
People reporting no block for 2 hours!

Like Antoine Le Calvez who mentions block #597,273 which was mined after 119 minutes!

But we do not know if there is indeed a correlation between the slowing down of the Bitcoin network, the block confirmations and the Bitcoin mining farm fire in China that ravaged $10 million in mining equipment!

This mining farm which certainly had big miners to mine Bitcoin BTC like the Antminer S5, Antminer S7 or Antminer S9, Avalonminer 741, Bitmain Antminer D3 or Dragonmint T16 to mention the best BTC Asic miners.

China, which certainly holds the monopoly in Bitcoin mining with mining pools such as Bitmain.
Bitcoin mining requires large energy capacities and significant electricity resources.
This makes the Bitcoin mining cost rather high, around several thousand Dollars depending on the price of local electricity.

Mining equipment can heat up very fast and that is perhaps the cause of this fire that quickly ravaged all the mining equipment of this Bitcoin mining farm located in China.

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