RATE Group | US Holding Firm Halted Mining Business After Bitcoin Crashed Below $4K
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US Holding Firm Halted Mining Business After Bitcoin Crashed Below $4K

28 Mar US Holding Firm Halted Mining Business After Bitcoin Crashed Below $4K

Posted at 15:57h in Bitcoin News by

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Although the cryptocurrency markets have slightly recovered following massive sell-offs in mid-March, Bitcoin’s (BTC) faltering price has led to notable miner instability and closures.

Soon after Bitcoin dropped below the $4,000 threshold on March 13, DPW Holdings, a Nasdaq-listed holding company, announced that it is temporarily shutting down its cryptocurrency mining business, Digital Farms.

DPW notifies the SEC about multiple changes to its business in relation to the coronavirus

According to a March 18 business update filed with the United States Securities and Exchange Commision (SEC), the Digital Farms’ suspension comes alongside other closures and changes at DPW in response to the COVID-19 pandemic.

However, while changes at other businesses at DPW are directly connected to the impact of COVID-19, Digital Farms is said to be suspended due to Bitcoin’s recent price crash. The filing reads:

“Digital Farms’ cryptocurrency mining operations have been suspended…

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