1 sat \ 1 reply \ @nerd2ninja 5 Jul 2022 \ on: Bitcoin miners struggle with crypto’s price decline, rising energy costs, and increase in mining difficulty bitcoin
Happens every bear market. Mining ops always ramp way up during the hype cycle and then declare bankruptcy during the bear market. There's a lot of really long term players that don't care though because they how the game goes.
During 2018 I saw a youtube video about a guy who had to sell off a whole warehouse and declare bankruptcy. Kinda sad to watch.
Ah ok. Sort of normal business cycle problems. Some businesses are prepared and weather the storm, some are too leveraged and go under, and some are maybe in between and get lucky or unlucky.
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