CleanSpark cleared its Coinbase credit line, with net profit margin nearing break-even.

This article is machine translated
Show original
According to a report by theminermag, CleanSpark cleared all outstanding balances with Coinbase and Two Prime in November. The company currently has approximately $400 million in undrawn borrowings within its committed credit lines. The report states that CleanSpark's repayment situation highlights how the recent decline in Bitcoin hashrate prices (currently hovering around $35/PH/s) has compressed profitability across the industry. Even with its low cash hashrate costs, the company's net profit margin is nearing break-even after the recent Bitcoin price correction.

Source
Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
Like
Add to Favorites
Comments