Crypto Miners Rack Up Huge Debts, Face Margin Calls

The private and publicly listed crypto miners have racked up debts anywhere between $2 billion to $4 billion to finance the construction of their gargantuan facilities across North America.

Miners that borrowed money to finance their expansion plans are now having to make tough decisions. Many “of those loans are underwater today” and borrowers need “significant revenues beyond the financing to remain current,” said Neil Van Huis, partner at BlockFills.

[Via]

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