Bitcoin mining farms continue to operate under the threat of Coronavirus

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Around 70 percent of the total Bitcoin mining rate is controlled by Chinese Bitcoin mining farms. Currently, the country is suffering from an outbreak of a dangerous virus that has caused around 80 percent of the country’s population to stay at home. Despite facing such circumstances, the country’s mining farms remain unaffected, as stated by a representative from Hash In The Box. 

Chinese Bitcoin mining farms

As per Reuters report, the country’s major mining hubs are located in the provinces of Yunnan, Xinjiang, Inner Mongolia and Sichuan. Almost all of these regions have witnessed numerous reported cases of Coronavirus, with the exception of Inner Mongolia. The Sichuan province has seen 80 reported cases while Yunnan and Xinjiang have witnessed 26 and 5 reported cases of Conoravirus, respectively.

According to a miner, who goes by the name Mike, the cases reported in Sichuan were located in the city while the mining pools are located “deep in the mountains.” As per the miner, the locations of these mining pools are extremely safe.

Mike’s claim is reinforced by the current Bitcoin hashrate that seems to see the usual volatility in a steady rising direction appearing to follow a simple trend. Just recently, the hashrate created a new all-time high and has been hovering around a level that is seven times the Bitcoin hashrate was in the historic bull run of 2017.

When asked whether mining farms are closing due to Coronavirus, many miners stated that no, while some claimed that “viruses do not infect machines.” Meanwhile, some miners highlighted that Bitcoin mining farms are located around Xinjiang while the outbreak is concentrated around Wuhan that is located near the center of China.

Featured image by pixabay.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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