Core Scientific Sells 7,202 Bitcoin for $167 Million in June: Operational Update

American Nasdaq-listed cryptocurrency mining firm Core Scientific has shared its operational update by selling over 7200 Bitcoins in June. Facing increasing operational costs and debt obligations, Core Scientific Inc. made a significant move in June to bolster its financial position.

As announced by the firm, it sold 7,202 Bitcoin at an average price of $23,000 per BTC to secure $167 million, in an effort to repay its debt. The funds were strategically allocated to strengthen the company's infrastructure.

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. Core Scientific sold the majority of its bitcoin holdings in June—a total of 7,202 BTC for $167 million.

The company said that the money was used for equipment. Core Scientific (CORZ) sold 7,202 bitcoins last month at an average price of $23,000 to raise about $167 million, according to a statement Tuesday. The company said Core Scientific, a blockchain data center and crypto mining firm, sold 7,202 bitcoin in June for $167 million. The average price of bitcoin during the time of sale was aligned with the average market price during that period.

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. The publicly traded Bitcoin miner Core Scientific confirmed on Tuesday that it sold $167 million worth of Bitcoin in June alone.

This significant selloff leaves the miner with just 1,959 Bitcoin remaining in its holdings. The sale demonstrates Core Scientific's commitment to managing its financial obligations and investing in future growth.