Potential For Bitcoin Miner Capitulation – Bitcoin Magazine

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Latest public mining developments

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