Core Scientific sold 7202 BTC in June for $167 million

US blockchain hosting provider Core Scientific sold 7,202 BTC for $167 million in June at an average price of $23,000 per bitcoin, according to a press release.

The proceeds were mainly used to pay for equipment supplies, capital investments, commissioning of additional data center capacity and debt service.

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

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

“Daily mining increased last month by about 14%, from 34.8 BTC (June 1) to 39.8 BTC (June 30),” Core Scientific representatives shared their success.

In total, the firm mined 1,106 BTC last month.

The company's own mining capacity includes 103,000 ASIC devices with a total hashrate of 10.3 EH/s.

The company plans to put another 70,000 miners into operation within the next six months. 90% of the cost of additional equipment has already been paid.

Recall that in the first quarter, Core Scientific recorded a $466.2 million net loss.