cryptocurrency While stock market declines are beginning to reverse a bit, corporate stocks continue to fall after the major decline. Companies are being forced to sell Bitcoin as they are looking for different 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 as one of the technologies of the future and as a new currency to replace real money. Cryptocurrencies, which have emerged in the major declines it has experienced recently, this time the US. the biggest Bitcoin mining companies came forward with the loss he announced. Companies based on last quarter earnings reports billion dollar loss he did.

Bitcoin’s Loss of Value Caused Businesses to Lose $1 Billion

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

Companies sold 14,600 cryptocurrencies in June and only They were able to produce 3000 900 cryptocurrencies. At the same time, Core Scientific announced in June to cover operating expenses and fund expansion. Bitcoins about sold 80% of.

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