Overheating crypto mining rigs have brought on one other main fireplace in South Korea, emergency companies in North Jeolla Province have claimed.
Per the information company Yonhap, the incident happened within the metropolis of Muju. Fireplace service Officers say the fireplace brought on $17,345 value of harm.
Overheating Crypto Mining Rigs Precipitated 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 happened at a home in Muju County. And fireplace service professionals mentioned they extinguished the blaze “in 20 minutes.”
They added that the fireplace burned a 32㎡ part of the home and destroyed “seven cryptocurrency mining machines.”
Each police and fireplace service officers mentioned they think the fireplace was attributable to an “overloading of mining equipment.”
However they mentioned they’re nonetheless investigating “the precise causes of the fireplace.”
The Jeonbuk (North Jeolla) Fireplace Service launched {a photograph}, taken on the scene, of what seems to be a fire-damaged metallic storage unit.
On its cabinets, a number of badly burned crypto mining rigs are clearly seen.
Fireplace Threat for Miners?
The incident comes round six months after an analogous incident noticed 110 rigs deplete 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 have been operational on the time of the blaze.
Rescue groups have been in a position to extinguish the fireplace in simply 50 minutes. Nonetheless, the fireplace reportedly devastated an space of 33㎡ and consumed all 110 mining rigs.
The Jeonju fireplace division mentioned the fireplace “brought on property injury” value “over 9 million received [$6,236].”
Multiple-third of Korean youngsters with work expertise began working earlier than the authorized age of 15, with one in 10 starting as early as earlier than 13, a current report revealed, prompting requires improved monitoring of unlawful youngster labor and dealing situations.…
— The Korea Herald 코리아헤럴드 (@TheKoreaHerald) January 30, 2025
Crypto Mining Challenges in South Korea
Crypto funding enjoys sky-high reputation in South Korea, the place a whole lot of hundreds of residents commerce cash regularly.
Nonetheless, 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 fuel prices.
Family fuel costs have risen by virtually 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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