Public Miner Capitulation Takes Shape With Core Scientific On The Ropes

The listed below is an excerpt from a recent edition of Bitcoin Magazine Pro, Bitcoin Magazines premium markets newsletter. Core Scientifics bitcoin holdings went from a tremendous 9,618 in May to only 24 in OctoberCore Scientific was able to drive greater bitcoin production and share of the hash rate by having the largest debt-to-equity ratio in the area at 3.5. Currently, the businesss liquidity situation is dependent on 2 variables: the bitcoin rate going greater and electrical power costs coming down. Our view is that it will be extremely lucky for either to emerge as a stagnating bitcoin rate continues and electricity prices, specifically for hosting bitcoin miners, is just trending greater. ASIC prices are in free-fall mode as hash rate continues to increase while cost stays stagnantFinal note: Bitcoin mining is a brutal business, and the existing state of these conditions is the last remaining bear to kill in concerns to the conclusion of this bear market cycle and the rebirth of the next bull market.

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The listed below is an excerpt from a recent edition of Bitcoin Magazine Pro, Bitcoin Magazines premium markets newsletter. Core Scientifics bitcoin holdings went from a massive 9,618 in May to only 24 in OctoberCore Scientific was able to drive higher bitcoin production and share of the hash rate by having the largest debt-to-equity ratio in the area at 3.5. Our view is that it will be exceptionally lucky for either to materialize as a stagnating bitcoin rate continues and electrical energy prices, especially for hosting bitcoin miners, is just trending greater.