SWAN in the USA

[mpoletiek]

https://decrypt.co/241031/swan-layoffs-ends-bitcoin-mining-no-ipo

Bitcoin Firm Swan Announces Layoffs, Nixes IPO Plans
The financial services company also says its “unlikely to continue” with Bitcoin mining, but has not elaborated on why it’s cutting back.

Is this a signal towards issues with BTC others have warned about? BTC becoming more centralized? Are there any metrics or evidence that provides hope?

[BitMaxz]

~snip~

Bitcoin Firm Swan Announces Layoffs, Nixes IPO Plans
The financial services company also says its “unlikely to continue” with Bitcoin mining, but has not elaborated on why it’s cutting back.

Is this a signal towards issues with BTC others have warned about? BTC becoming more centralized? Are there any metrics or evidence that provides hope?

I don't think the news you provided will affect the BTC decentralization anyone can run a full node with the whole blockchain and contribute to the network I don't think the news could affect the whole bitcoin decentralization.

This is my first time to hear Swan but it looks like a financial service and advisor so why did you bring this news into the mining section? is it because the tweet that the Swan CEO mentioned is mining? It does nothing to do with decentralization they just mention managed mining units but they are not the only company that mines BTC.

[mpoletiek]

They had a mining operation, shut it down.

Full nodes w/o mining just maintains state? You need mining for new TX's correct?

[philipma1957]

I would need full access to their books to tell you what it really means.

On the surface it simply looks like they are not making a profit on their mining side.

I can list 50 reasons why a company is not making good profit mining.

But to do that with any degree of accuracy I would need to analyze their books.

And they are not going to let me see why they stopped by examining their books.

Your guess that it means trouble for all companies is possible but not likely to be the only reason they closed shop on mining.

[mpoletiek]

I would need full access to their books to tell you what it really means.

On the surface it simply looks like they are not making a profit on their mining side.

I can list 50 reasons why a company is not making good profit mining.

But to do that with any degree of accuracy I would need to analyze their books.

And they are not going to let me see why they stopped by examining their books.

Your guess that it means trouble for all companies is possible but not likely to be the only reason they closed shop on mining.

Agreed. Keeping my eyes peeled for any other news.