A devastating fire broke out at a crypto mining center in South Korea, resulting in the destruction of approximately 110 mining rigs, according to firefighters. The incident occurred on June 24, and at the time of the fire, only 30 rigs were in operation. The fire started at 12:36 am and was extinguished within 50 minutes in the Samcheon District of Wansan Neighborhood in Jeonju, South Jeolla Province. The building, which housed the mining center, was equipped with crypto mining machines, and a section of the building measuring 33m² was destroyed along with all the mining rigs. The local fire department estimated the property damage to be over 9 million won (around $6,481). Authorities are still investigating the cause of the fire, but arson is considered unlikely. The specific cryptocurrencies being mined by the affected rigs were not disclosed. Despite the popularity of crypto in South Korea, large-scale industrial mining operations are rare due to the high cost of energy. Many South Korean mining collectives have opted to invest in overseas mining projects, and the country has also seen an increase in scams targeting the crypto community.
