Collapse of FTX_Official could result in more pain for bitcoin miners and lenders who had exposure to the crypto exchange. Reports egreechee
have said they are in a liquidity crunch. The stock prices of all three publicly traded miners have plunged more than 90% this year.
“ASIC financiers going through distress and bankruptcy will contribute to the cost of capital rising significantly in the space, and access to capital drying up,” said mining service firm Luxor’s chief operating officer, Ethan Vera, who also estimated the total debt of up to $2.5 billion outstanding for the miners.
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