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@timbray
It's the confluence of 3 things:

A) The gig is not transfer of money from customers to businesses. The gig is transfer of money from investors to founders/influencers.

B) Most of those investors are gullible and/or members of a death cult.

C) Sunk cost in cryptomining rigs: what else looks like a nail?

"The truth is, these are not very bright guys, and things got out of hand."