Sichuan Rainy Season to Give Bitcoin Hash Rate a Much Needed Jolt

The post-halving reality of Bitcoin’s network may soon change shape, some industry insiders argue. The reason is quite simple, and, surprisingly, it has nothing to do with crypto itself: The wet season has arrived in Sichuan, a southwest China province known as one of the hottest spots for Bitcoin (BTC) mining. 

The rain in Sichuan is a good sign for all local farmers, Bitcoin miners included. The abundance of water leads to a hydropower supply glut, which, in turn, makes electricity prices — miners’ main burden — decrease. As a result, mining becomes increasingly profitable, which can lead to an increase in the overall hash rate. But is it possible for a single Chinese province to drive up the entire Bitcoin network amid slashed rewards?

The go-to place for mining

According to the latest data from the Cambridge University’s Centre for Alternative Finance’s Bitcoin Mining Map, Sichuan accounts for 9.66% of the total BTC hash rate. It is worth noting that the southwest…