The highly anticipated partnership between BitMEX and the private technology firm Astrobotic, aiming to send Bitcoin “to the moon,” seems to face setbacks due to a malfunction in the spacecraft’s propulsion system.
Earlier, BitMEX revealed its collaboration with Astrobotic to send Bitcoin on board its lunar lander, which took off from Florida this past Monday.
According to the BBC’s report, Peregrine 1 is grappling with a fuel leakage issue, making a landing on the moon unfeasible.
Shortly after its launch, engineers discovered that the spacecraft, expected to touch down on the moon by late February, was struggling to align its solar panels correctly with the sun.
As a result, it’s having difficulty harnessing solar energy to recharge its batteries. This has led the spacecraft to consume more of its limited fuel reserves to maintain its trajectory.
once this fuel runs out, the spacecraft, known as Peregrine 1, is expected to lose power and enter an uncontrolled spin.
Taking advantage of the mission’s attention, BitMEX has also organized a trading competition, offering participants a chance to win a baseball hat autographed by Arthur Hayes and a shared prize of 100,000 USDT for the top traders.
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