SBF denies FTX is eyeing distressed crypto mining companies
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FTX founder Sam Bankman-Fried has calmed speculation that the company is looking into mining firms. The FTX CEO said in an interview that he did not want to discount the possibility of a “compelling opportunity” in the mining industry. However, the quote appears to have been taken out of context, forcing him to clarify that the firm is “not particularly looking at miners” but is ‘happy to have conversations” with mining companies. Bitcoin mining revenue has been mirroring year lows not seen since mid-2021, with Bitcoin mining revenues dipping to $14.40 million on June 17. At the time of writing, Bitcoin mining profitability is $0.0956 per day for 1Th/s. Source