RE: Could Floods in China Wipe Out Bitcoin?
China is enduring some of the worst flooding in 22-some years – how will this affect Bitcoin?
Could Floods in China Wipe Out Bitcoin?
“If the floods keep up during the coming days or weeks, Bitcoin miners might see cuts in their precious electrical supply. Even if the electric infrastructure withstands the water damage, energy prices could go up.
Either of these scenarios would most likely impact the profitability of the mining operations, not only of Bitcoin but any other minable digital assets. Changes in electricity or profitability could have an impact on Bitcoin hash rates, which recently hit an all-time high on July 8.”