Bitcoin Miners Suffer Over $1 Billion Loss In Q2 2022

Minn NewsBTC - 1 sena ilu - Ħin tal-Qari: 2 minuti
It-Tlieta, 16 ta ’Awwissu, 2022 10:22 PM

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.

Mhux biss il-minaturi kellhom telf kbir l-aħħar kwart; membri oħra tas-settur ukoll. L-akbar skambju tal-munita kriptografika tal-Istati Uniti, Coinbase Global Inc., irrapporta telf ta '$ 1.1 biljun, u MicroStrategy Inc esperjenza wkoll telf nett ta' aktar minn biljun dollaru Amerikan.

L-aqwa minaturi pubbliċi ħadu 3,900 munita f'Ġunju, iżda biegħu 14,600 minnhom, skont Mellerud. F'Ġunju, Core Scientific biegħet madwar 80% tal-muniti tagħha biex tħallas l-ispejjeż operattivi u tappoġġja t-tkabbir.

Biex jibqgħu solventi, il-minaturi qed ibigħu l-assi tagħhom u l-magni tal-minjieri u jieħdu aktar dejn. Maratona espandiet il-linja ta 'kreditu preċedenti tagħha ta' $100 miljun f'Lulju billi tiffinanzjaha mill-ġdid b'self ġdid għal żmien $100 miljun mill-bank li jiffavorixxi l-kripto-munita Silvergate Capital Corp Barra minn hekk, il-minatur biegħ it-tagħmir tal-minjieri tiegħu għal $58 miljun. Ma 'B. Riley Principal Capital II, Core Scientific iffirma ftehim ta' xiri ta 'stokks komuni għal 100 miljun dollaru Amerikan.

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.

Sors oriġinali: NewsBTC