The decrease in the profitability of mining operations due to the recent decline in the market forces many companies to sell. Finally, Core Scientific, one of the largest cryptocurrency miners in North America, announced that it sold 7,202 Bitcoin (BTC) worth $167 million in June.
Core Scientific, Tuesday, July 5 in a statement on the day equipment payments, capital investments in additional data center capacity, and scheduled debt payments in order to do June per month $23,000 with the average 167 million dollars worth 7,202 Bitcoins stated that he had made the sale. actual sales, May total on its balance sheet in the month 8,058 Bitcoins represented the majority of the company’s assets.
CEO of Core Scientific Mike LevittIn his statement on the subject, the company amid the market decline increase liquidity and strengthen its balance sheet He stated that he was working for
We are working to strengthen our balance sheet and increase liquidity to meet this challenging environment. Our industry is experiencing tremendous stress as capital markets weaken, interest rates soar, and economic history grapples with inflation. Our company has successfully endured crises in the past and we are confident in our ability to manage the current market turmoil.
After its sale June on the balance sheet at the end of the month 1,959 Bitcoins and about 132 million dollars cash found Core Scientificprospectively pay operating expenses and pension debts, finance growth and maintain liquidity for He plans to continue to sell some of the Bitcoins he obtained from his mining activities.
According to the description Oklahoma and TexasThe company, which has expansion plans in June daily Bitcoin production from mining activities in 14% increasing on average 34.8 BTCfrom 39.8 BTCdespite rising to May by month 2.8% in decline 1,106 Bitcoins was able to produce.
Also at the end of the month 10.3 exahash (EH/s) mining hash having a rate Core Scientificby the end of the year 30 EH/sIt aims to reach