Bitcoin miners enjoyed a bumper 2021 amid a historic bull market but with crypto suffering one of its worst-ever corrections this year, some publicly-listed miners are on the verge of being wiped out, according to hedge funds.

Crypto miner Argo Blockchain’s stock has lost nearly 96% of its value in 2022 to date. Nasdaq and Toronto Stock Exchange-listed Hut 8 Mining’s share price plunged by around 88%. Canada-based HIVE Blockchain Technologies is down by 86%.