Hot air and green crypto
— Adding, Old notion, Year, Bitcoins, Euromoney, Collapse, Power, Debts, Verifying, Coming — 1 min read
High energy prices are crushing miners’ margins. Many have had to abandon the old notion of holding on for dear life to the bitcoins they have earned. Some miners have been selling bitcoins to meet their utility bills, adding to the decline in value in June from $30,000 to $20,000. Others that had leveraged up also began cashing out to reduce their debts, fearing even steeper falls. IMF paper says some kinds of crypto assets can be more energy efficient than much of the current payment landscape, including credit and debit cards. But what’s this? A contact sends Euromoney a June paper from the IMF saying that “some kinds of. crypto assets. can be. more. energy efficient Source