The used market is flooded with ASICS and GPUs so it seems the adjustment isn't working well.
Also, many large miners didn't sell their coins and instead they borrowed real money to expand and fund their new mining operations. As the interest rates are climbing and crypto prices are going down, that's not possible any more.
Also, many large miners didn't sell their coins and instead they borrowed real money to expand and fund their new mining operations. As the interest rates are climbing and crypto prices are going down, that's not possible any more.