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.

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Coinbase Says Miners’ Sales of Newly Minted Bitcoins Don’t Add Significant Market PressureIn a report looking at the crypto mining sector, coinbase says that if all newly issued bitcoin were immediately sold onto the market each day, it would equate to only 900 BTC of selling pressure. By willcanny99 coinbase willcanny99 Bear market effect. The fear index doesn't lie. coinbase willcanny99 Who cares what Coinbase says? Oh I guess the scamcoiners do. Why do you do journalism for scamcoiners? coinbase willcanny99 Link: Mantul138 is the most complete online slot site. Mantul138 have the Biggest Bonus and The best agent live casino with best games offers. Mantul138 has a modern web view and supported by best servers.
Source: CoinDesk - 🏆 291. / 63 Read more »