Bitcoin Miners Suffer Over $1 Billion Loss In Q2 2022

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Ut, 16. augusta 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.

Nielen baníci mali v minulom štvrťroku obrovské straty; aj ostatní členovia sektora. Najväčšia americká burza s kryptomenami, Coinbase Global Inc., vykázala stratu 1.1 miliardy USD a MicroStrategy Inc. tiež zaznamenala čistú stratu viac ako 1 miliardu USD.

Špičkoví verejní baníci vyťažili v júni 3,900 14,600 mincí, ale podľa Melleruda ich predali 80 XNUMX. V júni spoločnosť Core Scientific predala približne XNUMX % svojich mincí, aby zaplatila prevádzkové náklady a podporila rast.

Aby baníci zostali solventní, predávajú svoje aktíva a ťažobné stroje a viac sa zadlžujú. Marathon rozšíril svoju predchádzajúcu úverovú linku v hodnote 100 miliónov USD v júli jej refinancovaním novým termínovaným úverom vo výške 100 miliónov USD od banky Silvergate Capital Corp. S B. Riley Principal Capital II podpísala Core Scientific zmluvu o kúpe akcií za 58 miliónov USD.

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.

Originálny zdroj: NewsBTC