Due to the collapse of the Celsius cryptocurrency project, the price of mining equipment may decrease

CoinShares analyst Matthew Kimmell believes that the sale of mining equipment by Celsius' subsidiary could lead to a drop in miner prices and increase negative pressure on the market.

Matthew Kimmel, an analyst at CoinShares, joined experts concerned that the mining subsidiary of troubled cryptocurrency lender Celsius, Celsius Mining, has filed for protection from creditors.

«The sale of Celsius Mining miners will increase pressure on the price of cryptocurrency mining equipment,» Kimmell said.

Industry analysts have suggested that Celsius Mining may sell about 120,000 miners to raise funds. This could reduce the price of the equipment. If the cost of miners and bitcoin drops sharply, the cryptocurrency market may collapse.