Yes, I have heard that
. But seems to be made up/partial reason.
I mean this is one coal mine which was mining coal, not generating power. Power generators have (hopefully even in China) weeks stored on site. Also I am sure that there are hundreds or thousands of coal mines in Chine. So I just really don't believe that one tragedy in one mine can have an affect this big.
We will see I guess as this is all supposed to be back online in days as this happened almost a week ago. Not that I miss this hashrate, less in China would be probably good.
Does our collective brain have any idea what's going on?
I thought that by now everyone and their grandmother have heard about the coal mine explosion in China, a detailed explanation which I posted in the uncensored difficulty topic can be found here:
To answer your question, first of all, the coal mine explosion in China (Xinjiang ) is real, pools reported an average of 25-30% drop in their reported hashrate right after the explosion, the hashrate drop happened to ALL sha256 coins, along with BCH price going up against BTC and what seemed like a larger drop in BCH hashrate compared to BTC percentage-wise, mining BCH was about 25% or more profitable than mining BTC.
More hash power was migrating from BTC which has already lost enough hashrate to other more profitable "back then" coins, which contributed more to the hashrate drop in BTC, but the migrating has a small impact compared to the mine explosion, why do I say so? because more than 30EH was gone from SHA256, all the other Altcoins combined don't make up 5EH of it, so even if they were 100% more profitable only 5EH would have migrated before we reach to an equilibrium of profitability across all SHA256 coins.
