Bitcoin miners took on billions in debt to ‘pump their stock’—leading to a crypto catastrophe
The phone just won’t stop ringing, beams Zach Bradford, the CEO of Bitcoin mining company CleanSpark. The calls are from other mining bosses—and they’re panicking. After Bitcoin crashed and energy costs spiraled over the summer, mining firms that took out expensive short-term loans to buy hardware during the bull run now teeter on bankruptcy. Lenders […]