The plummeting price of bitcoin could force crypto miners to sell the tokens to fund operations, further pressuring the digital currency.
In good times, crypto mining firms and bitcoin's price are locked in a virtuous cycle.
Fintech
Plunging bitcoin hits crypto miners
Shares of some miners have fared badly: Marathon Digital Holdings is down 63% since May 4, while Riot Blockchain has fallen 58% and Core Scientific has fallen about 70%
The plummeting price of bitcoin could force crypto miners to sell the tokens to fund operations, further pressuring the digital currency.
In good times, crypto mining firms and bitcoin's price are locked in a virtuous cycle.