Bitcoin Giants Announce Billions of Dollars Loss

Core Scientific, Marathon Digital Holdings and Riot Blockchain, which are considered to be the three largest publicly traded Bitcoin mining companies in the USA, lost close to $ 1.5 billion in the second quarter after the troubles in the crypto market.

Cryptocurrency Even though the declines in the stock market have started to reverse a little, the shares of the companies continue to decline after the great fall. Companies are forced to sell Bitcoin as they look for various ways to pay off their debts and cover their costs. Also, according to crypto analyst Jarand Mellerud july bear in 2022 The second month with the most Bitcoins sold it happened.

Cryptocurrencies are seen both as one of the technologies of the future and as a new currency to replace real money. Cryptocurrencies, which have come to the fore in the great declines it has experienced recently, this time the USA. the biggest Bitcoin mining companies came to the fore with the damage he announced. Companies based on last quarter earnings reports billion dollar loss he did.

The loss of value in Bitcoin caused companies to lose $ 1 billion

According to the latest quarterly earnings reports of the largest US Bitcoin mining companies, Core Scientific from companies in the second quarter ended June 30. 862 million dollars, Marathon Digital Holdings 192 million dollars and if Riot Blockchain 366 million dollars i.e. a total of 1.4 billion dollars net loss explained. The biggest reason for the loss of companies was explained as the loss of value up to 60% in Bitcoin.

Companies sold 14,600 cryptocurrencies in June and only They were able to produce 3 thousand 900 cryptocurrencies. At the same time, Core Scientific announced in June to cover operational costs and fund expansion. Bitcoins approximately sold 80% of.


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While this situation, which affects Bitcoin miners, makes investors nervous, the largest crypto exchange in the USA Coinbase Global Inc.. $1.1 billion loss While explaining, MicroStrategy Inc. also from 1 billion dollars reported a net loss.

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