How the Long Tail of the Coronavirus Might Slow Bitcoin’s Hash Power Growth

The coronavirus outbreak in China may impose a longer-term impact on the bitcoin network’s mining activity at a time when an estimated 65 percent of its computing power is located there.

While Chinese miner manufacturers see rising demand for new equipment ahead of bitcoin’s scheduled halving in May, they estimate the disease may limit growth in bitcoin mining power if the situation isn’t resolved in the near future because it is difficult to expand or build new machines, according to Kevin Shao, general manager of Canaan Creative’s blockchain arm.

Shao told CoinDesk that while there is little doubt miners can maintain the current level of computing power, there is a shortage of new mining machines.

So far, almost every bitcoin miner maker in China – Bitmain, Canaan, MicroBT and InnoSilicon – faces delays in production and delivery. Bitmain and Canaan, the world’s top two miner makers by market share, have published notices saying the delay of after-sale services until…