Bitcoin Miners Suffer Over $1 Billion Loss In Q2 2022

Ku NewsBTC - 1 year ago - Reading Time: 2 menit
Salasa, 16 Agustus 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.

Henteu ngan éta panambang miboga karugian badag kuartal panungtungan; anggota lianna ti séktor ogé. Bursa cryptocurrency AS pangbadagna, Coinbase Global Inc., ngalaporkeun leungitna AS $ 1.1 miliar, sarta MicroStrategy Inc ogé ngalaman rugi net leuwih ti AS $ 1 miliar.

panambang publik Top ditambang 3,900 koin dina Juni, tapi dijual 14,600 sahijina, nurutkeun Mellerud. Dina Juni, Core Scientific ngajual kira-kira 80% tina koinna pikeun mayar biaya operasi sareng ngadukung pertumbuhan.

Pikeun tetep pangleyur, para panambang ngajual aset sareng mesin pertambangan sareng nyandak langkung seueur hutang. Marathon ngalegaan garis kiridit na saméméhna $ 100 juta dina bulan Juli ku refinancing deui ku injeuman istilah anyar $ 100 juta ti bank ramah-cryptocurrency Silvergate Capital Corp Sajaba ti éta, panambang ngajual alat-alat pertambangan na pikeun AS $ 58 juta. Kalawan B. Riley Principal Capital II, Core Scientific geus nandatanganan perjangjian beuli saham umum pikeun 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 aslina: NewsBTC