Will there be only one left? – The crypto winter is harsh for everyone. The crypto sector is going through a freezing period. bitcoin price dropenergy price increase, daily decrease in number of bitcoins to be mined – the list can go on – are all elements that weaken the thread on which the sector walks. The news of the past few days has shown this to us only too well. Some are even on the edge of the abyss. Others put the keys under the door. However, in keeping with the adage “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 North caused a lot of ink to flow. Indeed, at a standstill, the bitcoin mining company went bankrupt in September. In this affair with sometimes romantic aspects, the leaders of the company would have siphoned off – the day of the bankruptcy of the company and according to the document of the judgment – close to $3 million.
The information in the judgment also tells us that General Capital, a loan and investment company, acquired two facilities from the mining company. All for $5 million. The proposed board order thus proposes the sale of two sites, one in Texas and the other in Nebraska. Included in this takeover are reimbursement and compensation obligations to North Capital’s customers.
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The BTC mining sector on the brink?
The fall of Compute North can be considered dangerous. Even for mining companies that seem to suffer little from the crypto winter. This is the case of Marathon, for example, which is on a small cloud. Strong of 616 bitcoins mined at least October, society seems not to be pitied. However, the bankruptcy of Compute North may have caused the company to suffer precisely because it had sites in common with Compute North. And this danger is not the only one that revolves around this sector in the midst of the polar era.
The moratorium against BTC mining in New York still finds echoes in our lines with the ban on Bitcoin mining introduced in Moldova recently or at Quebec. Europe, too, has decided to keep the king of cryptocurrencies in check through Ie bitcoin mining that she wants to ban during the winter.
The presence of some strong Bitcoin advocates like block or Binance (which even opened a support fund of $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 objective ? Take advantage of it when the good weather arrives.
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