The coronavirus has spread quickly, and has caused great concern across the globe. Travel is limited, people are quarantined, and there is a great measure of worry and fear over the outbreak.
It may not be anyone's first thought of how this could affect crypto, but this article from Coin Telegraph fills us in on how the virus is affecting mining operations in the short term.
A mining farm, in particular, is being forced to shut down during the epidemic. According to BTC.top CEO Jiang Zhuoer’s Weibo moment post on Feb. 4, all the mining machines have been forced to shut down in one of the mining farms he owns in a remote region in China.
Per Zhuoer’s post, the firm has been told that it’s not allowed to return to work at the moment. He claims that personnel at the mining farm have never stopped working and none of the maintenance staff has ever left this area before the quarantine control period.
Meanwhile, Bitcoin mining machine companies in China are delaying after-sale services
Affordable electricity and resources in provincial areas such as Xinjiang, Inner Mongolia, Yunnan and Sichuan have contributed to China’s status as a major market for Bitcoin miners.
Bitmain and Canaan Creative are the main mining chip manufacturers in China, with Bitmain producing 66% of the world’s cryptocurrency mining hardware.
Yet due to the outbreak of the virus, companies such as Bitmain, Canaan and MicroBT have published notices on their websites of delays in their after-sale services until Feb 10.
We can all hope and pray that the virus outbreak will run it's course under proper containment, treatment and protection, and this will pass soon. Obviously, natural disasters and unwanted health events cause primary worries over the health of family and populations, but they also have their impact on industry. In this case, we hope to see things come to resolution for crypto, and for the people affected on the front line.
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