- Ki Young Ju asked TradFi to bail out US-based BTC miners.
- American mining companies are now working hard to try to pay off the debt.
- FoundryUSA now controls a hash rate of 42%, which is the highest dominance rate since 2014.
Ki Young Ju, CEO of data analytics firm CryptoQuant, is calling on wealthy investors for a bailout to buy US-based (BTC) miners and their crypto holdings at a discount this year.
In a Twitter thread today, Young Ju argued that American miners are running mining rigs as hard as they can to pay off financing debts owed on the equipment they were leasing. The CEO shared a graph showing that miner FoundryUSA captured 42% of the entire hash rate over the past 24 hours. He added that the number represented the largest dominance since 2014.
The hash rate of $1/$BTC has reached an all-time high again. Why? American miners are running their mining rigs at full capacity to pay off financing debts owed on the equipment they were leasing. Foundry USA accounted for 42% of the total hash rate over the past 24 hours,…
The CEO of CryptoQuant after calling on tech giants to rescue US miners from a debt crisis made his Coin Edition debut.