Bitcoin Miners’ FTX Contagion Exposure May Amplify Industry Pain

Miners’ stability sheets have been steadily deteriorating over the previous few months as the worth of bitcoin has slumped, killing their income. In the meantime, vitality costs have soared, growing their prices. This has resulted in one of many largest mining information middle operators within the U.S., Compute North, to file for chapter 11 chapter safety in September, whereas massive gamers similar to Core Scientific (CORZ), Argo Blockchain (ARBK) and Greenidge Era (GREE) have stated they’re in a liquidity crunch. The inventory costs of all three publicly traded miners have plunged greater than 90% this 12 months.

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