Public mining companies are having a hard time due to the falling price of bitcoin, rising electricity prices and the difficulty of mining. But Arcane Research experts noted that none of them went bankrupt.

The main reason for the financial stability of miners, analysts called the “huge” monetary and cryptocurrency reserves that they accumulated at the beginning of summer.

Companies liquidated a significant amount of Bitcoin in June and July to pay for equipment supplies and other expenses. However, Arcane Research stressed that most of them are in good financial standing.

The firm’s experts compared miners’ quick liquidity rate on March 31 and now. The indicator is the ratio of liquid assets (fiat money, equivalents and cryptocurrencies) to current assets.

Reserve sales during the summer predictably reduced the proportion of six of the eight companies surveyed. The marathon showed the most significant drop in the indicator.

Experts say that the financial situation of the latter, like the others, remained stable. To them, Stronghold is an exception. The firm has a fast ratio of just 0.3 and has negative working capital.

“Unless it is recovered by a recovery in Bitcoin price, it will be difficult for the company to survive,” Arcane Research analysts said.

Recall that in August Charles Edwards, the founder of Capriole Investments, concluded that the period of capitulation of bitcoin miners has passed.

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