Compute North operates data centers for miners, including Marathon Digital and Hive Blockchain, but a $300 million loan has made it the latest bear market casualty.
The conditions are ripe for a long ‘crypto winter’ from which many coins will never recover, and as we can all see, it’s a multi-faceted problem with no easy solutions in sight.
Joshua Henslee released a video sharing his thoughts on why a second major crash in the digital currency sector is happening and why he thinks we’re entering a longer-term bear market.
Digital currency prices will continue on their downtrend, with a few bounces in between, at least until the first interest rate hike takes place, Patrick Thompson forecasts.
As a result of the down market in 2018, one South Korean expert estimates that between 70-80% of South Korean miners have ceased operation.
Cryptocurrency merchant bank Galaxy Digital Holdings reported a loss of $76.65 million for the third quarter, as it was weighed down by persistently low digital asset prices over the past year.