Part 11/12:
The presenter indicates that Bitcoin’s price would need to dip to around $14,000 before most miners become unprofitable, which, if brief, could lead to short-term insolvencies but also create opportunities for larger or better-capitalized firms to acquire distressed assets.
Conclusion: A Sector at a Crossroads
In summary, October 2022 presents a landscape of resilience interlaced with significant risk. Miners are investing heavily, driven by the expectation of a next bull run, despite current profit pressures and financial vulnerabilities. CleanSpark stands out as the top candidate based on financial efficiency and operational execution, while large players like Marathon and Riot face substantial balance sheet risks.