mining firms filing for bankruptcy in the coming years than there were in 2022, says Hut 8 CEO Asher Gennot.with Bloomberg, Genoot said that the main cause of bankruptcies in 2022 came from firms being overleveraged and unprepared for rising energy costs.
“A lot of companies grew with that and that debt couldn't be serviced in 2022 when Bitcoin prices went down and energy prices went up.”on the NASDAQ — are among several of the Bitcoin miners that filed for bankruptcy during the crypto winter in 2022. Genoot said he expects to see an uptick in mergers and acquisitions activity among smaller-scale Bitcoin miners, something he predicts will contribute to a far lower rate of bankruptcies.for a significant amount of M&A activity or “distress opportunities” to unfold, Genoot explained.is currently slated for April 20 when block 840,000 is reached. The event will reduce miner rewards from 6.25 BTC to 3.125 BTC at current prices.
Source: Digital Coin News (digitalcoinnews.net)
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: Crypto_Potato - 🏆 568. / 51 Read more »
Does the Bitcoin halving impact cross-chain interoperability solutions?Beyond the immediate impact on Bitcoin pricing and miner rewards, Bitcoin halving influences cross-chain interoperability.
Source: Cointelegraph - 🏆 562. / 51 Read more »
US Bitcoin miner Giga Energy to launch facility in ArgentinaUS Bitcoin miner Giga Energy has expanded into Argentina to convert otherwise wasted methane into Bitcoin.
Source: Cointelegraph - 🏆 562. / 51 Read more »
Source: Utoday_en - 🏆 295. / 63 Read more »
Source: Utoday_en - 🏆 295. / 63 Read more »
Source: Utoday_en - 🏆 295. / 63 Read more »