Top Bitcoin Mining Pools See 15% Hashrate Drop Amid Continuous Rainstorms in China
Major Chinese bitcoin mining pools are each seeing daily hashrate drops of between 10% and 20% following continuous rainstorms in Sichuan.
The recent upward trend began in September 2019.
Peter Thiel-backed Layer1 told potential investors in a recent pitch deck that bitcoin miner maker Canaan’s co-founder Liu Xiangfu joined its team as a key executive – but that’s not what Liu says.
Affected mining centers in the area may see a notable increase in electricity costs.
The company expects 1,000 more S19 machines by December.
Company executives say Riot Blockchain is on track to become cash flow positive later this year.