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Mining pools such as F2Pool and Biyin have dropped by more than 15% due to floods in Sichuan



On August 18, according to data from the OKLink website, in the past 24 hours, the computing power of the entire network has dropped by nearly 3% (due to the delay of the data, the actual decrease may be greater than 3%). The force is 127.51EH/s. The computing power of the top ten large mining pools has almost all declined abnormally, and only the previously mysterious roadside (Lubian) mining pool computing power has risen by 75% in 24 hours.

In the past 24 hours, the liquidation of the entire network reached 145 million US dollars: According to news on July 24, according to the statistical report of the coin market, the liquidation of the entire network in the past 1 hour reached 12.86 million US dollars. In the past 24 hours, the liquidation of the entire network reached 145 million US dollars, of which the liquidation of Bitcoin reached 24.18 million US dollars, and the liquidation of Ethereum reached 59.71 million US dollars. [2022/7/24 2:34:03]

Among them, the 24-hour computing power of Poolin Mining Pool decreased by 14.26%; the computing power of F2Pool dropped by 21.30%; in the past 24 hours, the computing power of and Antpool (Antpool) fell by 8.38% and 18.52% respectively. The main reason for the large-scale and sudden drop in computing power is the flood disaster in Sichuan, which caused the local power grid to be interrupted. the

Sberbank of the Russian Federation withdraws from the European market: Jinse Finance reported that according to Reuters, Russia's largest financial institution - Sberbank of the Russian Federation (Sberbank) - will withdraw from the European market and will no longer provide liquidity support to its European branches. At the same time Sberbank claims that it has sufficient capital and asset quality to provide payment services to all depositors. Sberbank has previously launched a blockchain exchange-traded fund called "Sber – Blockchain Economy", and the bank is also the first financial institution in Russia to launch such a product. Blockchain ETFs making an impact. [2022/3/2 13:32:49]

The European Central Bank’s stress test on the banking industry requires the reporting of risk exposures in Russia: On February 23, sources revealed that the European Central Bank notified banks with operations in Russia to report their risk exposures due to the confrontation between Russia and the West. The ECB is working with banks to assess their liquidity, loan books, risks in trading and foreign exchange positions, and their ability to maintain business operations, the people said. Regulators are said to be in daily contact with certain banks, expecting banks to assess various risk scenarios, including severe economic sanctions and the real-world consequences of a Russian "invasion". Banks are still working on plans for a scenario in which more Russian companies and financial institutions are sanctioned, with a major hit to the Russian economy and the ruble, according to people familiar with the matter. (Golden Ten) [2022/2/23 10:11:28]

According to a CCTV News report on August 18, starting from 8:00 pm on August 15, Mianzhu City, Deyang, Sichuan Province experienced heavy rains, and the river flow in the city rose rapidly. The rainfall gradually increased in the early morning of the 16th, and dangerous situations occurred from time to time. On August 17, Sichuan launched a Level II flood control emergency response, which is the first time Sichuan Province has launched a Level II flood control emergency response this year. In the early morning of August 17, the flood flow of the Suining section of the Fujiang River reached 21,000 cubic meters per second, exceeding the guaranteed flow of 2,800 cubic meters per second. It was a catastrophic flood once in 30 years.

Some miners told Rhythm BlockBeats that due to the raging flood and the critical situation, the site is already being transferred, and some mines have to arrange for local staff to evacuate to ensure personnel safety. Previously, according to PANews reports, the roadside (Lubian) mining pool is located in Iran, so the flood disaster in Sichuan did not affect the operation of the mining pool.

When asked whether the flood disaster would cause large miners to sell bitcoins to maintain the operation of the mine, the miners told Rhythm that most miners will take hedging (referred to as hedging) as financial management options during the flood season. That is to say, the currency corresponding to the production capacity of the next 1-6 months will be sold in advance at a high price, and stable income can be obtained even when the currency price plummets.


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