Bitcoin miner bankruptcies will be less common this time around — Hut8 CEO

A slew of Bitcoin miners filed for bankruptcy in the crypto winter of 2022 but Hut 8 CEO Asher Genoot is adamant that things will be different after the upcoming halving.

There will be far fewer Bitcoin (BTC) mining firms filing for bankruptcy in the coming years than there were in 2022, says Hut 8 CEO Asher Gennot.

Speaking in an April 3 interview with Bloomberg, Genoot said that the main cause of bankruptcies in 2022 came from firms being overleveraged and unprepared for rising energy costs.

“A big area that led to a lot of bankruptcies in the mining sector and distressed assets was because of the leverage of 2021,” said Genoot.

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