I was just looking for something when I came across this.

Texas’s Crypto Mining Boom Is Starting to Look More Like a Bust.

The digital gold rush in Texas is losing its luster as Bitcoin miners grapple with financial woes, leaving behind what some fear will be a wasteland of unfinished sites and abandoned equipment.

In an effort to become a haven for crypto mining, Texas has aggressively lured miners with cheap power and favorable regulations, prompting many to take out billions in loans to buy pricey machines and build out infrastructure.

However, soaring energy costs, a sharp decline in Bitcoin prices and more competition have compressed profit margins and made it difficult for miners to repay debt. Some are on the verge of bankruptcy....

...Abbott’s office did not respond to requests for comment....

[edit] And the girlfriend gets found.

Caroline Ellison Plea Agreement: $250,000 Bail, Surrender of Travel Documents, Forfeiture of Assets.

How much longer before the whole fake currency ponzi scheme implodes upon itself?

Energy prices that once were almost free are catching them off guard as the global economy tanks....
Europe’s Last Bitcoin Mining Refuge Is No Longer Viable

Miners moved to northern Norway and Sweden to avoid high energy costs. Now, power prices are surging there, too.

Pointy Haird Boss.. I would like to withdraw all my funds from your crypto exchange....
https://dilbert.com/strip/2022-12-22

Pointy Haird Boss.. I would like to withdraw all my funds from your crypto exchange....

LoL.. thank you. :^)

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Dilbert is certainly keeping up with the news just now.....

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Bob Smith
Member of Seti PIPPS (Pluto is a Planet Protest Society)
Somewhere in the (un)known Universe?

Today, Dilbert tries to withdraw his crypto currency.

https://dilbert.com/strip/2022-12-23

Another one is about to bite the dust:
Silvergate Capital shares sink as crypto-related deposits plunge by $8 bln

I really hope this foolhardy thought goes no further than being a foolhardy thought:
https://www.bbc.co.uk/news/technology-64224950

(But given the thought processes of the UK treasury minions and ministers I'm not too sure they won't give it a go)

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Bob Smith
Member of Seti PIPPS (Pluto is a Planet Protest Society)
Somewhere in the (un)known Universe?

Another step in closing down the ponzi schemes that are called crypto "currencies":
https://www.bbc.co.uk/news/technology-64265440

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Bob Smith
Member of Seti PIPPS (Pluto is a Planet Protest Society)
Somewhere in the (un)known Universe?

It seems that cryptocurrency ponzi schemes and money laundering go hand in hand.

US arrests Russian crypto boss who ‘catered to known crooks’.

And another one files for bankruptcy:
https://www.bbc.co.uk/news/technology-64343377

The ponzi scheme is falling apart.....

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Bob Smith
Member of Seti PIPPS (Pluto is a Planet Protest Society)
Somewhere in the (un)known Universe?

Government promises robust crypto regulation:
https://www.bbc.co.uk/news/technology-64468617

From where I sit the most robust regulation would be a ban on "mining" and "trading", but I think that would be very hard to fully enforce.

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Bob Smith
Member of Seti PIPPS (Pluto is a Planet Protest Society)
Somewhere in the (un)known Universe?

Ethical hacker' among ransomware suspects cuffed by Dutch cops

Then there's this...
Bitcoin mining rig found stashed in school crawlspace
Don't blame the kids! Ex-city employee charged with $17k power theft

Then there's this...
Bitcoin mining rig found stashed in school crawlspace
Don't blame the kids! Ex-city employee charged with $17k power theft

NEZ?

Then there's this...
Bitcoin mining rig found stashed in school crawlspace
Don't blame the kids! Ex-city employee charged with $17k power theft

NEZ?

I was thinking the same thing, but I thought not to say anything back then. ;-)

You would've though that a bank would've known better.

A US bank is on the brink of collapse and its owners are debating whether it can go on after racking up $1 billion in losses.

On Wednesday night local time, Silvergate Capital announced to the country’s corporate regulator, the Securities and Exchange Commission (SEC), that it would not be able to file its annual report to deadline while it deliberates on its ability to survive.

Off the back of the news, 24 hours later, the bank’s share price plummeted a whopping 55 per cent.

So far this year, Silvergate’s stock is down 67 per cent.

Silvergate, a traditional bank founded in 1987 and based in California, increasingly delved into the digital asset space.

The firm lent out most of its funds to crypto exchanges and as a result it was hit hard by the collapse of $32 billion (A$47.45 billion) exchange FTX.

Silvergate is reportedly the first traditional bank to be sucked into the domino effect of FTX’s bankruptcy, dubbed the ‘FTX contagion’.....

It floats no longer.

US bank Silvergate Capital goes into liquidation a week after stocks plunge.

Fears are growing of a massive bank-run in the US following the collapse of a major bank, with regulators considering extreme measures, and the effects could severely impact cryptocurrencies.

......The fall of Silicon Valley Bank is causing reverberations around the world and could rout cryptocurrencies including bitcoin as it emerges that stablecoin issuer Circle had $3.3 billion in the SVB.

Stablecoins, which are supposed to mimic the value of the US dollar, are vulnerable to bank-runs as investors fear there is not enough cash in reserve.

The price of USD Coin dived to below 85 cents on Saturday morning as panicked investors sought to cash out. USDC later bounced back as Circle pledged to cover any shortfall.

Big companies with exposure to SVB include Circle: $3.3 billion, Roku: $487 million, BlockFi: $227 million, Roblox: $150 million, Ginkgo Bio: $74 million, IRhythm: $55 million, RocketLab: $38 million, SangamoTherapeutics: $34 million, LendingClub: $21 million and Payoneer: $20 million.

Investors are warily watching the price of bitcoin and other cryptocurrencies after Silvergate, a crypto-friendly bank, went bust last week.....

Tulip bulbs. A couple more defaults and Warren Buffet will be proved correct.

More proof that crypto currencies are nothing more than a tool for scammers to grab people's money
https://www.bbc.co.uk/news/technology-64939146

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Bob Smith
Member of Seti PIPPS (Pluto is a Planet Protest Society)
Somewhere in the (un)known Universe?