Bitcoin Miners Suffer Over $1 Billion Loss In Q2 2022

Por NewsBTC - hai 1 ano - Tempo de lectura: 2 minutos
Martes, 16 de agosto de 2022 10:22

Bitcoin Miners Suffer Over $1 Billion Loss In Q2 2022

After incurring a number of impairment losses brought on by the decline in cryptocurrency prices, the three biggest US publicly traded Bitcoin mining companies lost more than US$1 billion in the second quarter.

In the three months that ended June 30, Core Scientific Inc., Marathon Digital Holdings Inc., and Riot Blockchain Inc. all reported net losses of US$862 million, US$192 million, and US$366 million, respectively. Following the approximately 60% decline in the price of Bitcoin during the quarter, other large miners such Bitfarms Ltd. and Greenidge Generation Holdings Inc., which released results on Monday, were also obliged to write down the value of their holdings.

Although there has been some relief in recent weeks for the shares of cryptocurrency mining companies, they remain significantly negative. In order to pay off debt and meet operating expenses in the most recent quarter, the miners were forced to sell some of the Bitcoin they had been hoarding. Through the third quarter, that persisted.

Non só os mineiros tiveron grandes perdas no último trimestre; tamén doutros membros do sector. A maior bolsa de criptomoedas dos Estados Unidos, Coinbase Global Inc., reportou unha perda de 1.1 millóns de dólares, e MicroStrategy Inc. tamén experimentou unha perda neta de máis de 1 millóns de dólares.

Os principais mineiros públicos extraeron 3,900 moedas en xuño, pero venderon 14,600 delas, segundo Mellerud. En xuño, Core Scientific vendeu aproximadamente o 80% das súas moedas para pagar os gastos operativos e apoiar o crecemento.

Para manterse solventes, os mineiros están a vender os seus activos e máquinas de minería e asumir máis débedas. Marathon ampliou a súa anterior liña de crédito de 100 millóns de dólares en xullo refinanciandoa cun novo préstamo a prazo de 100 millóns de dólares do banco Silvergate Capital Corp, compatible con criptomoedas. Ademais, a mineira vendeu o seu equipo de minería por 58 millóns de dólares. Con B. Riley Principal Capital II, Core Scientific asinou un acordo de compra de accións comúns por 100 millóns de dólares.

Public corporations with significant Bitcoin holdings on their balance sheets have been warned by the US Securities and Exchange Commission not to exclude price fluctuations when reporting results. Losses are not realized until the tokens are actually sold.

Orixe orixinal: NewsBTC