World's Largest Public Bitcoin Miner Sells 79% of Its BTC Holdings, What This Means for Crypto Market

its results for the first half of 2022. Of particular interest was the fact that the miner sold 7,202 BTC in June at an average price of $23,000, while the total proceeds from the sale amounted to $167 million. As of the end of June, the company had 1,959 BTC and $132 million in cash on its balance sheet. Thus, we can say that Core Scientific has sold more than 78.

6% ofThe miner then explained that the proceeds from the sale were used to pay for servers for ASICs, capital expenditures for additional data centers and debt payments. Meanwhile, the company plans to deploy an additional 70,000 ASIC servers during the remainder of the year, already having 103,000 at its disposal.

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Source: CoinDesk - 🏆 291. / 63 Read more »