Core Scientific sold 7,202 BTC for $167 million in June
- July 5, 2022
- 0
According to a press release, US blockchain hosting provider Core Scientific sold 7,202 BTC for $167 million in June at an average price of $23,000 per bitcoin. Proceeds
According to a press release, US blockchain hosting provider Core Scientific sold 7,202 BTC for $167 million in June at an average price of $23,000 per bitcoin.
Proceeds were mainly used for equipment procurement, capital investments, commissioning of additional data center capacity and debt servicing.
“As of June 30, the company has 1,959 BTC on its balance sheet and approximately $132 million in cash,” the press release said.
The company said it will continue to sell the mined cryptocurrency to cover operating expenses, finance growth, pay off debt and maintain liquidity.
Core Scientific representatives shared their achievements: “Daily mining increased by approximately 14% from 34.8 BTC (June 1) to 39.8 BTC (June 30) last month.”
In total, the firm mined 1,106 BTC last month.
The company’s own mining facilities contain 103,000 ASIC devices with a total hash rate of 10.3 EH/s.
The company plans to launch another 70,000 miners in the next six months. 90% of the additional equipment cost has already been paid.
Recall that Core Scientific posted a net loss of $466.2 million in the first quarter.
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Source: Fork Log
I’m Sandra Torres, a passionate journalist and content creator. My specialty lies in covering the latest gadgets, trends and tech news for Div Bracket. With over 5 years of experience as a professional writer, I have built up an impressive portfolio of published works that showcase my expertise in this field.
