Bitcoin Miners Going Bankrupt? Here's How Crypto Winter Is Impacting the Industry - Ep. 415

Nick Hansen, cofounder and CEO of Luxor Technologies, talks about the Bitcoin mining industry, why some miners are struggling while others are succeeding, and the next steps for the industry.

Show highlights:

the current state of the Bitcoin mining industry

why miners have the lowest margin environment ever

why there are so many mining rigs sitting latent

how to calculate the profitability of mining cryptocurrency

why miners are not moving to other countries for lower energy prices

what the impact of a Core Scientific bankruptcy would be

whether finance pools to aid struggling miners are helpful

why some miners are succeeding in this environment

whether Bitcoin miners can adopt renewable resources and help with the transition to green energy

how the mining industry is going to change in the following years

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Episode links

Troubled miners:
Bondholders of Troubled Bitcoin Miner Core Scientific Said to Be Working With Lawyers

A Huge Glut of Bitcoin Mining Rigs Is Sitting Unused in Boxes

Bitcoin Miner Iris Energy Says Some Machines Aren't Covering Financing Costs

Bitcoin Miner Argo Blockchain Fears Negative Cash Flow as $27M Raise Fails

Bitcoin mining hosting company Compute North filed for Chapter 11 bankruptcy protection

Miners currently weathering the storm:
Bitcoin Miner CleanSpark Spends Millions on Equipment as Others Struggle Amid Market Conditions

Bitcoin Miner Stronghold Digital Completes Debt Restructuring

Digihost Bucks Bearish Trend Among Bitcoin Miners, Remains Cash-Flow Positive

Crypto Miner Marathon Digital Mines Record 615 Bitcoin in October

Green energy:Solar-Powered Bitcoin Miner Aspen Creek Raises $8M Despite Bear Market

Finance Pools:
DeFi Platform Maple Finance Aims to Help Struggling Bitcoin Miners With $300M Lending Pool

Binance Pool To Support BTC Mining Industry With a $500M Miner Lending Project