There’s a lot of pressure on Bitcoin miners right now:

• Bitcoin’s is down some 75% from all-time highs
• Hashprice–a proxy for mining revenue per hash created by a miner–has hit a record low
• Difficulty is at an all-time high over 32 trilllion

Typically, energy contracts are the saving grace for cyclical conscious miners. Energy hungry miners set up power deals with the cheapest generators or owners in order to keep machines humming during the doldrums.
 

Yet today’s market has hardly given miner’s reprieve. Energy prices are up double digits for many end-consumers, as spurred on by the well trot out conversations on inflation, the Russo-Ukrainian conflict and flailing green energy policies.

CoinDesk /  Compute North Files for Bankruptcy as Crypto-Mining Data Center Owes up to $500M

Bloomberg / Crypto Tycoon’s Bitdeer Debuts Fund Targeting Distressed Miners

Cambridge  /  A deep dive into Bitcoin’s environmental impact

Reuters 'long reads'  /  Fears of 'subprime' carbon assets stall crypto rainforest mission

Markets are going insane. We sit down with Mark Rossano of C6 Capital Holdings to get the inside scoop of domestic and international energy markets, and where we are going into the winter months.

*As of Friday, September 23