A series of impairment charges contributed to a $1 billion second quarter loss for the largest publicly-traded Bitcoin mining companies in the United States. In the three months ending June 30, Core Scientific, Riot Blockchain, Marathon Digital Holdings, booked net losses of $862 million,$366 million, and $192 million, respectively. The 60% drop in the price of Bitcoin over the past quarter also compelled other significant miners, such as Bitfarms and Greenidge Generation Holdings, to write down the value of their holdings.
Crypto Mining Companies Sell off Coins and Gear to Recoup Losses
