Another major miner files bankruptcy as I predicted.

At the end of the third quarter, Core Scientific's assets stood at $1.4 billion, whereas its liabilities were about $1.3 billion.

The bankruptcy of Core Scientific, which accounts for about 10% of computing power on the bitcoin network

As Bitcoin miners drop out due to energy costs, network traffic will increase and go asymmetrical.   About one million miners service 200 million wallets, a 200-1 ratio.  Picture six miners (M) roughly co-located across the globe and their clients (C).

The 200 clients have a relatively short network path.  

Now visualize half the miners gone.

Each miner now has twice the traffic (400 clients), higher cost and a potential congestion bottleneck which slows down the confirmation process.   And 200 million clients are transmitting over 5x or 10x more distance, which increases network traffic and response time.  Imagine a geographic colocation system operating in reverse.  

Systemic failures often don't give much of a warning.