Talking to the crypto crowd in June about the market’s 70% collapse, Euromoney is sad to hear tales of bitcoin miners unable to pay their soaring electricity bills and throwing dust sheets over their darkened rigs.
Those application-specific integrated circuits eat a lot of power.
High energy prices are crushing miners’ margins. Many have had to abandon the old notion of holding on for dear life to the bitcoins they have earned by verifying transactions and blocks.
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