Bitcoin Miners Suffer Over $1 Billion Loss In Q2 2022

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Sel, 16 Ogos 2022 10:22 PTG

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.

Bukan sahaja pelombong mengalami kerugian besar pada suku lepas; ahli sektor lain juga. Bursa mata wang kripto AS terbesar, Coinbase Global Inc., melaporkan kerugian AS$1.1 bilion, dan MicroStrategy Inc. turut mengalami kerugian bersih lebih daripada AS$1 bilion.

Pelombong awam terkemuka melombong 3,900 syiling pada bulan Jun, tetapi menjual 14,600 daripadanya, menurut Mellerud. Pada bulan Jun, Core Scientific menjual kira-kira 80% daripada syilingnya untuk membayar perbelanjaan operasi dan menyokong pertumbuhan.

Untuk mengekalkan pelarut, pelombong menjual aset dan mesin perlombongan mereka dan mengambil lebih banyak hutang. Marathon mengembangkan barisan kredit AS$100 juta sebelumnya pada bulan Julai dengan membiayai semulanya dengan pinjaman berjangka AS$100 juta baharu daripada bank mesra mata wang kripto Silvergate Capital Corp. Selain itu, pelombong itu menjual peralatan perlombongannya pada harga AS$58 juta. Dengan B. Riley Principal Capital II, Core Scientific telah menandatangani perjanjian pembelian saham biasa untuk AS$100 juta.

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.

Sumber asal: NewsBTC