Seen this movie before… FFS!! Why would you risk it for fucking FIAT?
Oh boy those who don't learn from the past are doomed to repeat it, it's only been 4 years and here we go again. Bitcoin mining firm MARA has lent 7,377 BTC approximately 16% of its total reserves to third parties to generate yield.
Queue the fireworks, this cycle is going to be fun!
https://theminermag.com/news/2025-01-05/mara-lend-bitcoin-btc/
Discussion
You would think after celsius, blockfi and FTX they would have learned and the fact that the trend of raising capital for Bitcoin on your balance sheet would be enough, but ey greed is powerful
Good at setting up mining rigs - brain dead at managing the hardest asset on earth.. some people are still in this world for FIAT and will always be!
I guess these blow ups are good for those of us who just want one last chance at cheap sats so I can't be mad at them, only pick up the discount when the debt gets called