i think in previous bear markets there are mega farm/s that shut down due to bear market things...we'll see about these mega-corps farms, maybe we can see them fail too..hmmm what kind of bear market would that be?
There were never as many corporate mines 3-4 years ago as there are now. Corporations can easily raise capital to continue mining even when they can only pay the power cost. If they go bankrupt with Chapter 11, the ASICs will simply change ownership to the creditors while they stay on the network. These corp-o-miners won't be able to even afford the cost of ripping all those ASICs out of the wall, fire selling them (if they can even find large enough buyers), then reneging on their energy supply contracts, let alone the depreciation recapture. When a corporate mine is built, it will never ever get liquidated.I don't think BTC price will ever fall below $10k, so in that case, Whinstone / Marathon will continue operating while smaller sub-megawatt farms with no ability to raise capital go out of business. Even 10MW or so multi-million dollar farms with private investors are struggling right now. The U.S. will host 70% of global hashrate and it will mostly be operated by corporate miners. It turns out the ability to get capital, which is where U.S. corporations have an edge, is more important than power cost now.
