October 4, 2022 @ 9:19 pm
Will Canny is CoinDesk’s finance reporter. Barclays (BCS) says it remains positive about the long-term viability of bitcoin (BTC), and views bitcoin miner Core Scientific (CORZ) as a “best-in-class, leveraged play on the crypto ecosystem.” The crypto winter has clearly been rough for miners, who have seen profit margins shrink as bitcoin prices plunged more than 50% this year, while power prices soared and capital dried up. Despite this difficult macro backdrop, Barclays sees compelling risk/reward for Core at current levels. The shares of crypto hosting and mining company rose about 9.5% in premarket trading on Tuesday, amid a rally […]