- Ki Young Ju asked large TradFi to rescue US-based BTC mining companies.
- US mining firms now operate at maximum capacity in a bid to pay debts.
- FoundryUSA now controls a 42% hash rate, the highest dominance since 2014.
Ki Young Ju, the CEO of data analytic firm CryptoQuant is calling on wealthy investors to undertake a rescue mission of buying out US-based (BTC) mining companies and their crypto holdings at a discount this year.
In a Twitter thread today, Young Ju argued that US miners are running mining rigs at their maximum capacity to repay the financing debt owed on equipment they were leasing. The CEO shared a chart illustrating that mining firm FoundryUSA took 42% of the entire hash rate over the last 24 hours. He added that the figure represented the most extensive dominance since 2014.
1/$BTC hash rate hit an all-time high again. Why?U.S. miners are running mining rigs at full capacity to repay the financing debt owed on equipment it was leasing.Foundry USA pool took 42% of the total hash rate for the last 24 hours, the l …
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