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Apart from declining profitability, mining companies are also bleeding on the equipment front as ASIC miner value depreciates.
Meanwhile, the hefty remaining equipment payables have started to cause some companies to step back from previous expansion plans.
Mining companies’ spendings on property, plant and equipment have already slowed down over 22’Q1 compared to 21’Q4.
In this piece, we take a further look at the current state of the bitcoin ASIC miner marketplace.
Footnotes
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