Binance Pool Starts $500 Million Fund to Support Bitcoin Mining

.binance said it is launching a $500 million fund to support the crypto mining industry during its tough times. Reports thesamreynolds

Grayscale has also formed an investment vehicle to help investors take advantage of the low prices of bitcoin mining infrastructures.The downturn in the crypto market and the planned transition of Ethereum to proof-of-stake has hit miners hard., crypto miner Compute North filed for bankruptcy with $500 million in outstanding debt owed to at least 200 creditors.

Publicly traded mining company Riot Blockchain is down 70% year-to-date, while Marathon Digital Holdings is down 65% for the same period.

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