The crypto investment sector is very popular in South Korea. In the country, hundreds of thousands of residents trade coins daily.
The police as well as fire service officials said they had a suspicion that the fire was a result of other overloading of mining machinery.
The Jeonbuk Fire Service showed the image of the metal storage unit that got damaged by the fire at the scene.
The emergency services in North Jeolla Province have alleged that South Korea has faced another major fire caused by overheating crypto mining rigs. A South Korean news agency, Yonhap reported that the incident took place in the city of Muju.
As per the Fire Service Officers, the fire resulted in $17,345 worth of damage. The Police officers revealed that the fire broke out at about 4:28 am on January 30. And, they also reported that the incident took place at a house in Muju Country.
The overloading of mining machinery
The fire service professionals extinguished the fire in 20 minutes. The professionals further mentioned that the fire burned a 32-meter square section of the house and damaged seven cryptocurrency mining machines.
The police as well as fire service officials said they had a suspicion that the fire was a result of other overloading of mining machinery. But they revealed that they are scrutinizing the exact causes of the fire.
Source: Jeonbuk Fire Service
The Jeonbuk Fire Service showed the image of the metal storage unit that got damaged by the fire at the scene. On its bracket, various badly burned crypto mining rigs are clearly visible.
The similar accident
The event came after six months of a similar incident that witnessed 110 rigs burn up in a fire in the South Jeolla Province city of Jeonju.
As per the reports, the fire broke out in a building in the Samcheon District of Jeonju’s Wansan Neighbourhood. Firefighters mentioned that just 30 of the machines were functional at the time of the fire.
At that time, the fire was extinguished in only 50 minutes. Also, the fire damaged a total area of about 33 meters square and gulped all 110 mining rigs. The Jeonju Fire Department reported that the fire damaged the property of more than 9 million won, estimated at around $6,236.
The crypto investment sector is very popular in South Korea. In the country, hundreds of thousands of residents trade coins daily. At the same time, the nation shorts any major large-scale industrial crypto mining players.
The majority of the reason for this is the high electricity as well as gas costs of the nation. Household gas prices have skyrocketed by around 25% in the past few years. At the same time, the Korea Electric Power Corporation publicized it was freezing household rates in October 2024. It also publicized a 9.7% increase for industrial users, as reported by the Korea Times.
