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JPMorgan: Core Scientific’s Fire Sale Establishes Bitcoin Miner Valuation Floor
JPMorgan: Core Scientific’s Fire Sale Establishes Bitcoin Miner Valuation Floor
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Bitcoin's brutal bear market just got a benchmark.
When distressed miner Core Scientific offloaded its assets at firesale prices this week, JPMorgan analysts spotted an unexpected silver lining: The deals set a de facto floor for valuing publicly traded mining operations. Finally—some math Wall Street can't fudge.
The takeaway? Even in crypto winter, infrastructure matters. Those ASICs humming away in warehouses now have a price anchor. Whether that's comforting or terrifying depends on your cost basis.
One banker's trash becomes another's treasure—especially when you can mark it to 'market' with someone else's desperation.
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