Bitcoin Mining Loses Over One Billion In Second Quarter

The three-largest U.S. publicly traded Bitcoin mining companies lost more than $1 billion in the second quarter as cryptocurrency collapsed.

Core Scientific Inc., Marathon Digital Holdings Inc. and Riot Blockchain Inc. posted net losses of $862 million, $192 million and $336 million, respectively. That is a total loss that exceeds $1.1 billion, a truly historic loss of cryptocurrency.