Overheating Crypto Mining Rigs Blamed for One other South Korea Fireplace

Overheating crypto mining rigs have prompted one other main hearth in South Korea, emergency providers in North Jeolla Province have claimed.

Per the information company Yonhap, the incident befell within the metropolis of Muju. Fireplace service Officers say the hearth prompted $17,345 value of injury.

Overheating Crypto Mining Rigs Brought on Fireplace – Police

Law enforcement officials additionally reported on the incident, explaining that that fireside broke out at “round 4:28 am on January 30.”

They mentioned the incident befell at a home in Muju County. And hearth service professionals mentioned they extinguished the blaze “in 20 minutes.”

They added that the hearth burned a 32㎡ part of the home and destroyed “seven cryptocurrency mining machines.”

Each police and hearth service officers mentioned they believe the hearth was brought on by an “overloading of mining equipment.”

However they mentioned they’re nonetheless investigating “the precise causes of the hearth.”

The Jeonbuk (North Jeolla) Fireplace Service launched {a photograph}, taken on the scene, of what seems to be a fire-damaged steel storage unit.

On its cabinets, a number of badly burned crypto mining rigs are clearly seen.

Fireplace Danger for Miners?

The incident comes round six months after the same incident noticed 110 rigs dissipate in a blaze within the South Jeolla Province metropolis of Jeonju.

The hearth reportedly broke out in a constructing within the Samcheon District of Jeonju’s Wansan Neighborhood.

Firefighters reported on the time that just some 30 of the machines had been operational on the time of the blaze.

Rescue groups had been capable of extinguish the hearth in simply 50 minutes. Nevertheless, the hearth reportedly devastated an space of 33㎡ and consumed all 110 mining rigs.

The Jeonju hearth division mentioned the hearth “prompted property injury” value “over 9 million gained [$6,236].”

Crypto Mining Challenges in South Korea

Crypto funding enjoys sky-high reputation in South Korea, the place a whole bunch of 1000’s of residents commerce cash regularly.

Nevertheless, the nation lacks any main large-scale industrial crypto mining gamers. A lot of the rationale for that is the nation’s excessive electrical energy and gasoline prices.

Family gasoline costs have risen by nearly 25% lately. And whereas the Korea Electrical Energy Company introduced it was freezing family charges in October 2024, it additionally introduced a 9.7% rise for industrial customers, the Korea Instances reported.

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