The biggest bitcoin miners lost over $1B during this year’s crypto crash

The biggest bitcoin miners lost over $1B during this year’s crypto crash

The largest trio of publicly traded bitcoin mining companies reported a combined loss of well over $1 billion during the summer, the result of cryptocurrency markets experiencing an unprecedented crash

The three largest US bitcoin miners—Core Scientific, Marathon Digital Holdings, and Riot Blockchain—reported significant losses in recent quarterly earnings reports (thanks, Bloomberg). Core Scientific took the biggest hit of the three with a loss of $862 million, with Riot Blockchain losing $366 million and Marathon suffering a $192 million loss during the crypto free-fall. 

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