Bitcoin (BTC) miner Core Scientific has revealed that they have significant doubts about keeping their operations going for the next 12 months due to financial uncertainty and the financial crises that come with the drop in Bitcoin price.
Bitcoin mining company Core Scientific In its third quarter report, net loss of $434.8 million announced that he did. Company, November 2023He said that he needs additional liquidity and is in great uncertainty in order to continue his activities until .
The firm’s first two quarters $862 million with these data for the third quarter after its net loss Total net loss for 2022, $1.71 billion reached level.
The company, which was dragged into an environment of uncertainty after the serious decline in the price of Bitcoin and the increase in mining expenses, may join many mining companies that went bankrupt before.
In order to continue its activities until November 2023 company stating that it will need additional liquidityof cash resourcesIt will run out by the end of 2022 or sooner.He added that he predicted:
Considering the uncertainty regarding the company’s financial situation, there are significant doubts that it will be able to continue its operations until November 2023.
In a statement the company made to the SEC last month, it only had 24 BTC and $20 million cash announced that he was staying. Company, terra (LUNA) After its collapse, it started Bitcoin sales in June and was in full swing. 7,202 BTC had sold.
In early November, Core Scientific shareholders to avoid possible bankruptcy. It was stated that they were seeking legal action.