Cryptocurrency
Cryptocurrency
Out of context: Reply #730
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- grafician-2
"Core Scientific, one of the largest publicly traded crypto mining companies in the U.S., is filing for Chapter 11 bankruptcy protection in Texas early Wednesday morning, according to a person familiar with the company's finances. The move follows a year of plunging cryptocurrency prices and rising energy prices."
"Core's market capitalization had fallen to $78 million as of end of trading Tuesday, down from a $4.3 billion valuation in July 2021 when the company went public through a special purpose acquisition vehicle, or SPAC. The stock has fallen more than 98% in the last year."
- Somebody asked what happens with mining companies when BTC price gets too low...
< this happansgrafician - Dominos falling.shapesalad
- Or perhaps better to imagine blocks falling like domino’s.shapesalad
- Somebody asked what happens with mining companies when BTC price gets too low...