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Many miners are currently finding themselves in an interesting situation. Money was cheap. So if a miner thought that their cryptocurrency was going "to the mo
by foepys 4y ago
Many miners are currently finding themselves in an interesting situation.
Money was cheap. So if a miner thought that their cryptocurrency was going "to the moon", it was better to borrow money at low interest rates and stash the CC away for later.
Now that interest rates are increasing and the CC market is crashing, they cannot offload their CC quickly to cover their (future) costs and payments on their loans.
- wruza 4y agoIs that true? Mining business has mostly fiat-based balance, and one doesn’t simply mix currencies in a business without hedging. I mean it is plausible that people could leave profits in crypto, but that’s just an intersection of a businessman and a crazy tothemooner.