Bitcoin miners are no longer able or willing to hold onto all of their mined digital assets indefinitely as a slump in prices is eating into their margins.
The miner used Braiins mining pool, whose payout method caused the variance between Riot’s mining capacity and the amount produced, according to a person familiar.
DA Davidson analyst Chris Brendler downgraded Core Scientific and Argo Blockchain from buy to neutral and said the bank has grown “increasingly concerned” about the miners.