Core Scientific Sells 7,202 BTC in June

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US-based blockchain hosting provider Core Scientific sold 7,202 BTC for $167 million last month at an average price of $23,000.

According to the press release shared by the company, the proceeds were mainly used to pay for equipment supplies, capital investments, commissioning of additional data center capacity and debt service.

Per the press release:

“As of June 30, the company has 1,959 BTC and about $132 million in cash on its balance sheet.”

The company has said it will continue to sell the mined crypto to cover operating expenses, finance growth, pay off debt and maintain liquidity.

Core Scientific representatives have said:

“Daily mining increased last month by about 14%, from 34.8 BTC (June 1) to 39.8 BTC (June 30).”