Is there only one left? – The crypto winter is harsh for everyone. The crypto sector is going through a period of freezing. drop in bitcoin priceincrease in energy prices, daily decrease in the number of bitcoins mined – the list could go on – all the elements that weaken the thread on which the sector walks. The news of the past few days has shown this to us very well. Others are still on the edge of the abyss. Some put the keys under the door. However, following the saying “one man’s misfortune is another man’s happiness”, some BTC miners are on cloud nine.
Compute North and bitcoin mining: a $5 million bankruptcy
this week, Compute in the North causing a lot of ink to flow. In fact, in one stop, the bitcoin mining company went bankrupt in September. In this event’s sometimes romantic aspects, the company’s leaders can vie – the day of the company’s bankruptcy and according to the judgment document – close to $3 million.
The judgment information also tells us that Total Capital, a loan and investment company, acquired two facilities from the mining company. All for $5 million. The board’s proposed order thus proposes the sale of two sites, one in Texas and the other in Nebraska. Included in this acquisition are payment and compensation obligations to North Capital’s customers.
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BTC mining sector on the brink?
The fall of Compute in the North can be considered dangerous. Even for mining companies that seem to be suffering a bit from the crypto winter. This is the case of Marathon, for example, which is in a small cloud. Strength of 616 bitcoins mined at least October, society seems to be merciless. However, Compute North’s bankruptcy may cause the company to suffer because it has sites similar to Compute North. And this danger is not the only one that revolves around this sector in the midst of polar weather.
The moratorium against BTC mining in New York still finds echoes in our lines of the Bitcoin mining ban introduced in Moldova recently or at Quebec. Europe, too, has decided to continue the investigation of the king of cryptocurrencies Ie bitcoin mining that he wants to ban during the winter.
The presence of some strong Bitcoin promoters like block or Binance (which even opened a support fund in $500 million) shows that the bitcoin mining sector does not admit defeat. Besides, investors, like vultures, are there to pick up the crumbs of fallen BTC miners. Their goal? Take advantage of it when the good time comes.
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