Crypto analytics firm Messari bitcoin probability of mining companies filing for bankruptcy argued. According to Messari, the fact that companies file for bankruptcy is such an important detail that it can create additional sales pressure.
As Koinfinans.com previously reported, some Bitcoin miners He had to sell BTC to finance his operations.
Mining companies are facing increasing Bitcoin mining difficulty. In addition, they are struggling to survive due to falling prices. In addition, miners began to have problems with electricity bills due to high costs.
Bitcoin Miner Core Scientific May Go Bankrupt!
Core Scientific, the world’s largest Bitcoin mining company, announced earlier this week that it is investigating the ‘possibility of bankruptcy’. As a result, shares of the publicly traded company fell by 77%. The company’s stock is now down a frightening 98% year-on-year.
As cash resources will be exhausted due to the sharp decline in net income, cryptocurrency It would not be surprising if the miner went bankrupt by the end of the year.
Although the company continues to search for new capital, there is a possibility that it will have problems in this regard. As a matter of fact, the possibility of bankruptcy is very strong in the absence of financing.
Leigh Drogen, CIO of Starkiller Capital, claimed that every Bitcoin miner is in the same trouble. This means that the mining industry could face a major crisis. Last month, Compute North officially filed for bankruptcy.
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Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.