Bitcoin: Top mining company sells 1576 BTC as sell-pressure rises
Bitcoin has been attempting to recover over the past few weeks, but it has been obstructed by sellers. Resultantly, it has remained stagnant around the $20k mark. Miners, as a whole, are under distress and have been parting ways with their Bitcoin HODLings. In the month of September, Core Scientific—a US-based mining company—sold 1576 BTC at an average price of $20,460 per Bitcoin. As of 30 September, the Company held 1,051 Bitcoins and approximately $29.5 million in cash. In fact, Core Scientific produced less than what it sold last month. As per the recently released statement, “Core Scientific’s self- mining operations produced 1,213 bitcoin s in September, for an average of 40.4 bitcoin s per day. “ Elaborating on why brakes were applied on the production front , the statement noted , “Curtailment activity across multiple data centers and unanticipated electrical equipment challenges limited production advances. “ Nevertheless, the Company deployed approximat