Bitcoin mining firm Cathedra Bitcoin (CBIT) slashed its payroll by almost two-thirds as it tries to tackle market headwinds that have cut the price of bitcoin (BTC) by more than 60% this year.
The Canadian company is one of many bitcoin miners struggling to break even as the dollar value of their rewards declines while surging power prices increase operational expenditures. Compute North, one of the biggest hosting firms, filed for bankruptcy in September, while other majors like
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