The Potential for Bitcoin Miner Capitulation – Bitcoin Magazine

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Latest Public Miner Developments

After writing about the potential for public miners to surrender and covering Core Scientific’s possible bankruptcy route, there has been a wave of miner announcements and developments that suggest industry-wide risks are taking more shape. The main risk is the lack of cash flow to pay the interest on this debt as miners accumulate debt and profit margins are squeezed. Another risk is the hash rate (ASIC mining machines) used as collateral to secure this debt financing.

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