Is the Bitcoin mining industry about to collapse?
Messari, Bitcoin, the world’s largest cryptocurrency by market capitalization, is likely to face additional selling pressure if mining companies start filing for bankruptcy.
Public Bitcoin miners have been forced to sell their Bitcoin holdings in order to be able to finance their operations. Mining companies are having a hard time staying due to a double-whammy of increasing Bitcoin mining difficulty and plunging prices. Moreover, miners are struggling to pay their electricity bills due to high costs.
Earlier this week, Core Scientific, the biggest Bitcoin mining company in the world, shocked the industry by stating that it was exploring bankruptcy due to its dire financial conditions. The shares of the publicly traded company crashed by a whopping 77% on the news. The company’s stock is now down an eye-popping 98% on a yearly basis.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Large Bitcoin Miner Core Scientific Could File for BankruptcyThe consequences of the bear market might soon push the US-based BTC miner - Core Scientific - to file for bankruptcy.
Weiterlesen »
Bitcoin miner Core Scientific to run out of cash 'by the end of 2022 or sooner'The bitcoin miner will not make payments due in late October and early November with respect to several of its equipment and other financings.
Weiterlesen »
Core Scientific reveals financial distress in SEC filing, says its end may be nearCore Scientific is going through a rough patch. The Bitcoin miner has filed forms with the SEC revealing that due to several factors, it will not be able to make payments on time.
Weiterlesen »
Bono discusses his new memoir, 'Surrender,' and the faith at U2's core'I have to be myself when I'm singing these songs or I can't sing them.' U2's Bono tells rachelnpr that he has to mix all of his personalities to perform his songs. He talks with Morning Edition about his memoir, 'Surrender: 40 Songs, One Story.'
Weiterlesen »
Bitcoin Miner Core Scientific's Shares Plummet After Bankruptcy WarningUPDATE: Shares of world's largest bitcoin miner, Core_Scientific, have plummeted nearly 70% in pre-market trading as the firm said it may have to explore bankruptcy if strategic alternatives fail. By JamieCrawleyCD, sheldonreback
Weiterlesen »
Brink Emerges as the Top Funder of Bitcoin Core Development, BitMex Research SaysWhen it comes to funding Bitcoin development, bitcoinbrink is now the leader, BitMEXResearch says. FrederickMunawa reports
Weiterlesen »