Bitcoin miner Core Scientific has lost $1.7 billion this year

2022/11/23 05:38

Core Scientific Inc., the largest US publicly-traded Bitcoin mining company in terms of computing power, said its loss for the first nine months of the year climbed to over $1.7 billion.

The Austin, Texas-based company is among the hardest hit miners with low Bitcoin prices depressing mining revenue to a record low. Soaring energy costs and more competition among miners have plummeted profit margins. Core Scientific first warned in October that it may have to file for bankruptcy if the company can’t find more funding to repay its debt that amounts to over $1 billion. It had a third-quarter loss of $434 million.

bullishbullishbullishBullishbearishbearishbearishBearishLikeShare
Disclaimer:The content above does not represent HTX's positions.,HTX does not provide any trading recommendations.。

Related Articles

  • Image

    Bitcoin Indicator Signals Momentum Building – Capital Inflows Surge 350% In 2 Weeks

  • Image

    No country wins a global trade war, BTC to surge as a result: Analyst

  • Image

    Pantera CEO Drops Bombshell: Bitcoin Should Be Worth $120,000 Today

All Comments0LatestHot

LatestHot
noContent

No records

Related Articles

  • Image

    Bitcoin Indicator Signals Momentum Building – Capital Inflows Surge 350% In 2 Weeks

  • Image

    No country wins a global trade war, BTC to surge as a result: Analyst

  • Image

    Pantera CEO Drops Bombshell: Bitcoin Should Be Worth $120,000 Today