Thursday, February 6, 2020

The Coronavirus Threatens Chinese Bitcoin Mining Operations

The coronavirus has affected many aspects of life in China. Contrary to what most people assume, it can affect Bitcoin mining operations as well.

One mine located in a remote suburb has been shut down as a precautionary measure.

Coronavirus and Bitcoin Mining

It appears the mine is operated by BTC.top’s Jiang Zhuoer.

Why the hardware needs to be shut down is a topic of debate.

The official response is to contain the outbreak of the coronavirus.

However, mining machines do not go out on the streets, thus they seem unrelated to the spreading of the virus. 

It seems likely to assume that other mining operations across China may be disrupted in the weeks to come.

The government is almost maintaining paranoid-level measures to stop this epidemic in its tracks.

Given the vast scope of people in quarantine right now, no measure should be avoided. 

It remains unclear if the shutting down of this specific operation will make much of an impact on the coronavirus situation. 

The vast majority of Bitcoin’s hashrate is located in China throughout various provinces. 

If all miners have to shut down, a big problem would ensue.

However, there is no indication of this happening now or in the future. 

It is an interesting situation to keep an eye on.

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The Coronavirus Threatens Chinese Bitcoin Mining Operations