Galaxy Digital said in a recent report that the mining landscape will change in 2023 and fixed-rate contracts for hosting providers may become a thing of the past. They believe that hosting providers will be hit the hardest.

“The mining industry is currently cleaning up excess capacity and capital misallocation that propped up weak business models during the 2021 bull run. Miners are struggling to survive through 2022, paving the way for a more volatile period in 2023. "According to Galaxy Digital estimates, in 2022, mining companies will default on loans secured by US$277 million in ASIC mining machines, and machines with a computing power of 11.59 EH have been repaid to lending institutions. (theblock) #SHIB, #Binance, #NFT