CleanSpark Reports Hashrate Recovery Following Hurricane Helene

TLDR

• Hurricane Helene, a category 4 storm, has caused widespread damage across 7 US states
• CleanSpark’s Bitcoin mining operations were impacted, with hashrate dropping from 28 EH/s to 10.5 EH/s
• 200 MW of CleanSpark’s power has been restored, bringing hashrate back to 22 EH/s
• The death toll from Hurricane Helene has reached at least 137, with many still missing
• Bitcoin’s overall network hashrate has fluctuated between 538 EH/s and 745 EH/s since the hurricane hit

Hurricane Helene, a powerful category 4 storm, has left a trail of destruction across seven US states, affecting millions of homes and businesses, including Bitcoin mining operations.

The hurricane, which made landfall on September 27, has resulted in at least 137 deaths, with hundreds more people still missing.

CleanSpark, a major US-based Bitcoin mining firm, reported significant disruptions to its operations due to the hurricane.

The company’s hashrate, a measure of computing power on the Bitcoin network, dropped from 28 exahashes per second (EH/s) to 10.5 EH/s when it was forced to shut down 365 megawatts (MW) of power at its southeast Georgia site.

Zach Bradford, CEO of CleanSpark, provided an update on the situation on September 30. He stated that the company has managed to restore 200 MW of power, bringing its current operating hashrate back up to 22 EH/s.

CleanSpark expects to have the remaining 165 MW back online by October 4 at the latest.

Despite the challenges posed by Hurricane Helene, Bradford reassured stakeholders that CleanSpark’s mining infrastructure hasn’t suffered any “material damage.”

#BREAKING : The city of Asheville has announced that nearly 100,000 residents may be without access to water for weeks following the tragic and catastrophic floods caused by the remnants of Hurricane Helene. The devastation has already claimed over 103 lives, and more than 1,073… pic.twitter.com/PPAGMrvdwS

— upuknews (@upuknews1) September 30, 2024

The company was able to maintain a hashrate above 10.5 EH/s from its other facilities in northwest Georgia, Mississippi, and Tennessee throughout the crisis.

The impact of Hurricane Helene extends far beyond the crypto mining industry. The storm has affected Florida, Alabama, Georgia, North Carolina, South Carolina, Tennessee, and Virginia.

Wind speeds reached up to 140 miles per hour, causing road closures and severe flooding in many areas. Millions of homes and businesses remain without power as recovery efforts continue.

The broader Bitcoin network has also experienced fluctuations in hashrate since the hurricane made landfall. According to data from crypto mining platform CoinWarz, the network’s hashrate has varied between 538 EH/s and 745 EH/s over the past week.

CleanSpark’s response to the crisis highlights the resilience and adaptability of Bitcoin mining operations in the face of natural disasters.

Bradford emphasized that the company’s teams are prepared to restore normal operations promptly as power becomes available. He also stressed that the safety of CleanSpark’s team members was the top priority throughout the event.

The hurricane’s impact on Bitcoin mining operations underscores the importance of geographical diversification in the industry. While CleanSpark’s southeast Georgia site was significantly affected, the company’s ability to maintain operations at other locations helped mitigate the overall impact on its mining capacity.

As recovery efforts continue, the full extent of Hurricane Helene’s impact on both human lives and infrastructure is still being assessed.

The death toll, currently at 137, is expected to rise as search and rescue operations proceed. The storm has caused extensive property damage, with many areas experiencing severe flooding and wind damage.

The events surrounding Hurricane Helene serve as a reminder of the vulnerability of all industries, including cryptocurrency mining, to extreme weather events.

As climate change potentially increases the frequency and intensity of such storms, mining operations and other businesses may need to factor these risks into their long-term planning and disaster preparedness strategies.