Leveraged Hodl: A ‘Core’ Bitcoin Mining Problem

How the world’s largest bitcoin mining firm is on brink of bankruptcy

Core Scientific, the largest public bitcoin mining company in the world by production, made headlines in October in a filing with the Securities and Exchange Commission, where it stated recent operational pains as well as a warning of a potential bankruptcy filing.

The news, while somewhat expected, nonetheless caused ripple effects on the market as Core’s stock price tumbled by more than 70% in a day. After all, it accounted for over four percent of the entire bitcoin network block rewards in November. 2022 year-to-date, Core mined more than 11,000 BTC. 

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