{"id":16081,"date":"2023-01-03T18:30:28","date_gmt":"2023-01-03T18:30:28","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/bitcoin-miners-see-mixed-successes-in-tackling-debt-fueled-overexpansion-crisis\/"},"modified":"2023-01-03T18:30:31","modified_gmt":"2023-01-03T18:30:31","slug":"bitcoin-miners-see-mixed-successes-in-tackling-debt-fueled-overexpansion-crisis","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/bitcoin-miners-see-mixed-successes-in-tackling-debt-fueled-overexpansion-crisis\/","title":{"rendered":"Bitcoin miners see mixed successes in tackling debt-fueled overexpansion crisis"},"content":{"rendered":"
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According to a recent report by Hash Rate Index, publicly-listed Bitcoin (BTC) miners took on more than $4 billion worth of debt during the run-up to the crypto bull market. Mesmerized by rising prices, industry rushed hand over fist to purchase Bitcoin application-specific integrated circuits miners on easy credit.\u00a0<\/p>\n
However, in today’s context of Bitcoin price collapse, skyrocketing electricity prices, lower market prices for mining rigs, and record-level mining difficulty, 2022 became an extremely difficult year for sector players. That said, some are holding on better than others.<\/p>\n