So as miner prices go down, they will buy even more and build more warehouses, which will put a damper on the price declines. I won't be surprised if new S19 95T units cost $5000 each if BTC is worth $15k. I think this time will be different from the past, where miner prices did react to profitability.
Don't they have to default at some point? I mean the term "unlimited money" is just an exaggeration.
Someone on telegram was talking about this the other day and he said most of those folks take loans to buy new gears and the collateral is the previous gears they have, if that is correct, then the more prices drop the more money they have to add to the collateral which creates even more pressure.
Does anyone here know how those large corps actually get all that money?