RATE Group | Bitcoin price crash causes bankruptcy and mass cryptocurrency mine closures
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Bitcoin price crash causes bankruptcy and mass cryptocurrency mine closures

22 Nov Bitcoin price crash causes bankruptcy and mass cryptocurrency mine closures

Posted at 17:30h in Bitcoin News by

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Bitcoin mining operations in the US and China are facing closures after the plummeting price of bitcoin means they may no longer be profitable.

The world’s most valuable cryptocurrency is currently trading at around $4,500, having lost almost a third of its value in the space of a week.

Bitcoin mining – the process of generating new units of the cryptocurrency by solving complex puzzles – requires vast amounts of electricity to power the computers performing the…

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