Chinese Crypto Mining Firms are Selling Equipment By the Kilo

[kreslik.news]

Chinese crypto outlet 8BTC reported earlier this week that crypto mining operations are selling off mining equipment by weight rather than by unit amidst widespread market decline. The report specifically cited a Weibo post by the founder of crypto mining pool F2Pool.

Thecrypto markets have shed billions over the course of the last several weeks, with Bitcoin reaching as low as $4300 a pop–nearly 80 percent lower than its all-time high of roughly $20,000 last December. The decrease in marketcaps across the board has also decreased mining profitability; F2Pool and other crypto miners have reportedly made the decision ... (read more)