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3K+ BIT DIGITAL HOSTING CRYPTO MINERS TO GO OFFLINE

3K+ BIT DIGITAL HOSTING CRYPTO MINERS TO GO OFFLINE 

New York-based crypto mining company Bit Digital has reported that two of its partners have stopped working on more than 4,800 rigs following power outages at various facilities.


In an announcement Thursday, Bit Digital said a small station in Niagara Falls was devastated by the "subsequent explosion and fire," which required its partner Blockfusion USA to take 2,515 Bitcoin (BTC) miners and 710 Ether (ETH) miners outside of online on the site. In addition, the mining company reported that its partner Digihost experienced a similar power outage at North Tonawanda, New York, which resulted in 1,580 crypto miners going offline.


According to Bit Digital, the damage from the explosion and fire did not directly affect any of the mining equipment - just a small power supply station. In addition, the mining company did not specify which of its hazardous metals, the so-called "faulty equipment owned by the energy company," and would seek to recover lost money from mining crypto.


"Blockfusion is working with its own insurance and utility to recover power very quickly," says Bit Digital. "Operations are expected to resume in a few weeks, but for now there will be no uncertainty about the timing."


The mining company and its partners have six subsidiaries throughout the United States, three in New York and one in Texas, Nebraska and Georgia. With nearly 4,805 rigs offline, Bit Digital reported that its hashtag performance has dropped by 46.8%.



For a public sale on the Nasdaq Stock Exchange, the price of Bit Digital shares dropped by more than 6% in the last 24 hours to $ 1.59 at the time of publication. The company has taken steps to make green material, reporting that 67% of its mining power comes from renewable sources.

Source: cointelegraphy




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