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Lenders are getting creative as to what to do with the mining machines they accepted as collateral for the some $4 billion in rig-backed loans they underwrote when the rally in bitcoin seemed unstoppable.
What a difference 12 months can make, throw in a couple of rate hikes, bankruptcies and increased regulatory scrutiny and what do you get?
A complaint filed over the weekend by Faes & Company (London) claims it paid more than half-a-million dollars for underperforming bitcoin miners and
In theory, it’s not an alarmingly bullish call simply because bitcoin is slumping mightily this year.
At a seasonally-adjusted and annualized (SAAR) $3.284 TN pace, Non-Financial Debt (NFD) growth slowed from Q2’s SAAR $4.318 TN and Q1’s SAAR $5.438 TN.