Fried circuits at the bitcoin miners

Financial Times LogoFinancial Times1 mo ago

Fried circuits at the bitcoin miners

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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,.

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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:

Language: English

Reading Time: 5 minutes read

Article Length: 833 words

Coverage Area: United States

Availability: Desktop Web, Mobile Web

News ID: 18272

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About Financial Times

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Main Topics: MarketsFinanceInvesting

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Year Established: 1888

Headquarters: United States

News Last Updated: 14h ago

Coverage Areas: United States

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Publication Timezone: GMT -5:00

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Publisher ID: #3

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