As crypto miners default on loans, lenders could receive mining equipment as collateral, a popular financing tool, increasing losses as the rigs’ value plunges (David Pan/Bloomberg)

As crypto miners default on loans, lenders could receive mining equipment as collateral, a popular financing tool, increasing losses as the rigs’ value plunges (David Pan/Bloomberg)

David Pan / Bloomberg:
As crypto miners default on loans, lenders could receive mining equipment as collateral, a popular financing tool, increasing losses as the rigs’ value plunges  —  Beleaguered crypto lenders are being dealt another blow from Bitcoin miners as they weather the aftermath of the FTX collapse.