Bitcoin miners offloaded tokens at the start of the month yet again.
Due to the collapse of cryptocurrency prices this year, Bitcoin miners have been pushed into a tight spot even as the network hash rate remained mostly above 190 Eh/s over the last several months and briefly broke into an ATH.
Big mining rigs weren’t spared either. The top three Bitcoin mining companies being traded on the US stock market reportedly shed over $1 billion in Q2 2022. Quarterly earnings reports of Core Scientific Inc., Marathon Digital Holdings Inc., and Riot Blockchain Inc show losses of $862 million, $192 million, and $366 million, respectively.SPECIAL OFFER
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