Monday, January 30, 2023

CryptoQuant CEO Calls Tech Giants to Rescue US Miners from Debt Crisis By CoinEdition

-


CryptoQuant CEO Calls Tech Giants to Rescue US Miners from Debt Crisis
  • 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.



Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here

FOLLOW US

0FansLike
3,679FollowersFollow
0SubscribersSubscribe
spot_img

Related Stories