Rapidly rising electricity prices should be bad news for cryptocurrency miners, right? Boutique investment house Kuros Associates believes so, having shorted US-listed Microstrategy and Riot Blockchain in spite of being a short term bitcoin bull.
Miners “have a big problem [with] the rising cost of energy, and that’s not going away any time soon,” said Tancredi Cordero, chief executive at London-based Kuros. “The smart trade would be a put trade expiring in Q3. [Electricity]…
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