Fried circuits at the bitcoin miners

Quick Summary AI Powered

Electricity costs up, margins down — though it’s a bit more complicated than that.

Nasdaq-listed Core Scientific, Marathon and Riot have all tumbled nearly 80 per cent in the year to date and many operators have been selling down their reserves, either to fund operating costs or meet debt covenants.

Its benchmark, the Digiconomist Bitcoin Electricity Consumption Index, stopped including an estimate of hardware efficiency in mid 2020,.

or

Read Full Article5 minutes

Want your news featured here?

Article Details

Author / Journalist: George Steer

Category: MarketsFinanceInvesting

Topics: Miners Bitcoin Prices Cost Mining Electricity Trade Hash Financial Costs Production

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-06-28, 10:32:13

News Timezone: GMT -5:00

News Source URL: ft.com

Language: English

Reading Time: 5 minutes read

Article Length: 833 words

Coverage Area: United States

Availability: Desktop Web, Mobile Web

News ID: 18272

View Article Analysis

About Financial Times

Main Topics: MarketsFinanceInvesting

Official Website: ft.com

Update Frequency: 15 posts per day

Year Established: 1888

Headquarters: United States

News Last Updated: 14h ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT -5:00

News Language: English

RSS Feed: Available (XML)

Website Security: Secure (HTTPS)

Publisher ID: #3

Publisher Details