The bitcoin miner Core Scientific has voiced “substantial doubt” that they would be able to continue their activities over the course of the next year given the present status of the company’s finances.
The corporation disclosed to the United States Securities and Exchange Commission (SEC) on November 22 that it had incurred a net loss of $434.8 million during the third quarter of 2022. This information was included in the quarterly report that the company had filed with the SEC.
After reporting a net loss of $862 million for the second quarter of the year 2022, the total amount of the company’s net losses for the year currently stands at $1.71 billion.
According to the statements made by the company, more liquid resources will be required for it to be able to continue doing business until the month of November 2023. The statement predicted that the company’s financial resources “will be depleted by the of 2022 or sooner. “
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