During the early morning hours of September 30, a nine-minute video circulated on Twitter showing a large bitcoin mining farm burning down. Sources say the mining farm belonged to the company Innosilicon and roughly $10 million worth of mining rigs were destroyed.
$10 Million Dollars of Miners Up in Smoke
On Monday, cryptocurrency advocates shared a video on Twitter which shows a large fire destroying a warehouse filled with bitcoin mining rigs. The first video was shared at 10 a.m. by early bitcoin miner Marshall Long who tweeted: “[This] big datacenter from Innosilicon just went nuclear — Dovey Wan did you see this?” A few hours later, the founding partner at crypto asset holding company Primitive Ventures, Dovey Wan, also shared a longer video of the fire in China. Wan stated: As [Marshall Long] already broke it, here is the real footage of a local mega farm caught on fire — Which claimed a loss of $10M worth of mining machines.”
— Marshall Long (@OGBTC) September 30, 2019
Details about the mega-mining farm remain sparse, but news.Bitcoin.com’s sources say that the $10 million dollar mining facility did in fact burn down due to “faulty wiring and bad PSUs.” Our source, who asked to remain unnamed, said that the facility was located in Inner Mongolia. Innosilicon’s headquarters is located in Wuhan, a commercial center adjacent to the Yangtze and Han rivers. A few people did reach out to Innosilicon on Twitter, but the company has not made any official comments at the time of publication.
As @OGBTC already broke it, here is the real footage of a local mega farm caught on fire…
Which claimed a lost of $10M worth of mining machines pic.twitter.com/bMihmIwTNO
— Dovey Wan