{"id":470917,"date":"2022-07-06T00:56:14","date_gmt":"2022-07-05T21:56:14","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/core-scientific-sold-167m-worth-of-bitcoin-holdings-in-june\/"},"modified":"2022-07-06T00:56:14","modified_gmt":"2022-07-05T21:56:14","slug":"core-scientific-sold-167m-worth-of-bitcoin-holdings-in-june","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/core-scientific-sold-167m-worth-of-bitcoin-holdings-in-june\/","title":{"rendered":"# Core Scientific sold $167M worth of Bitcoin holdings in June"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a2555d2c39ad\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a2555d2c39ad\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/core-scientific-sold-167m-worth-of-bitcoin-holdings-in-june\/#%E2%80%9D_Core_Scientific_sold_167M_worth_of_Bitcoin_holdings_in_June_%E2%80%9C\" >&#8221; Core Scientific sold $167M worth of Bitcoin holdings in June &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Core_Scientific_sold_167M_worth_of_Bitcoin_holdings_in_June_%E2%80%9C\"><\/span>&#8221; Core Scientific sold $167M worth of Bitcoin holdings in June &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDcvMDE5NTIyNmYtYjM3NS00ZjI4LWJlOTgtMDg3MWNmNzYwOWM0LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-2a0745c6>United States-based cryptocurrency mining firm Core Scientific sold more than 7,000 Bitcoin in June to pay for servers, increase its data capacity, and settle debts.<\/p>\n<p>In a Tuesday announcement, Core Scientific <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.businesswire.com\/news\/home\/20220705005347\/en\/Core-Scientific-Announces-June-Updates\">said<\/a> it had sold roughly $167 million worth of Bitcoin (BTC) in June at an average price of $23,000 \u2014 7,202 BTC. The sale left the firm with \u200b\u200b1,959 BTC \u2014 roughly 21% of its holdings \u2014 and $132 million in cash as of June 30, a more than 75% drop when compared with its <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/sec.report\/Document\/0001193125-22-168330\/\">reported<\/a> 8,058 BTC holdings as of May 31. <\/p>\n<p>According to the firm, it used proceeds from the crypto sale to pay for ASIC servers, schedule debt repayments, and invest in additional data center capacity. The company reported it had produced 1,106 BTC in June, with self-mining accounting for 57% of its data center capacity and crypto mining operations as of June 30 \u2014 more than 180,000 servers.<\/p>\n<p>\u201cOur industry is enduring tremendous stress as capital markets have weakened, interest rates are rising and the economy deals with historic inflation,\u201d said CEO Mike Levitt. \u201cOur company has successfully endured downturns in the past, and we are confident in our ability to navigate the current market turmoil.\u201d<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">JUNE 2022 HIGHLIGHTS: <br \/>-1,106 <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> self-mined, <br \/>-10.3 EH\/s self-mined <br \/>-+180,000 ASIC servers in operation <br \/>-7.6 EH\/s co-location (hosting) <br \/>-Daily self-mining increased by 14% from June 1 (34.8) to June 30 (39.8)<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/KeypwtMEfr\">https:\/\/t.co\/KeypwtMEfr<\/a><\/p>\n<p>\u2014 Core Scientific (@Core_Scientific) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Core_Scientific\/status\/1544350401721470976?ref_src=twsrc%5Etfw\">July 5, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\nAmid a market downturn and extreme price volatility in cryptocurrencies, many crypto miners have reportedly sold their self-mined coins and in some cases liquidated holdings. In June, Canadian crypto mining firm Bitfarms sold 3,000 BTC \u2014 roughly 47% of its holdings at the time \u2014 for $62 million as part of a strategy to improve liquidity and pay debts.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Bitcoin miner Mawson to defer all major capital expenditures until market conditions normalize<\/em><\/strong><\/p>\n<p>Levitt said Core Scientific aimed to expand its capacity to 30 exahashes\/second by the end of 2022 while \u201ctaking advantage of distressed opportunities that may arise.\u201d The company plans to release its earnings report from Q2 2022 on Aug. 11.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/p>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/core-scientific-sold-167m-worth-of-bitcoin-holdings-in-june\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Core Scientific sold $167M worth of Bitcoin holdings in June &#8220; United States-based cryptocurrency mining firm Core Scientific sold more than 7,000 Bitcoin in June to pay for servers, increase its data capacity, and settle debts. In a Tuesday announcement, Core Scientific said it had sold roughly $167 million worth of Bitcoin (BTC) in&#8230;<\/p>\n","protected":false},"author":1,"featured_media":470918,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDcvMDE5NTIyNmYtYjM3NS00ZjI4LWJlOTgtMDg3MWNmNzYwOWM0LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74989,75042,106056,117,67874],"class_list":["post-470917","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-mining","tag-mining","tag-sell","tag-business","tag-united-states"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/470917","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=470917"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/470917\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/470918"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=470917"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=470917"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=470917"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}