Cipher Digital sells 1,619 Bitcoin, incurring a loss of $47.7 million

Odaily Planet Daily News Bitcoin mining company Cipher Digital disposed of 1,619 Bitcoin for $123.4 million, confirming a loss of $47.7 million. Company disclosures show that interest expenses for the period reached $66.7 million, while mining revenue was $24.8 million, a ratio of approximately 2.7 to 1.

As of the end of June, Cipher Digital held 646 Bitcoin, valued at $37.8 million. The company's quarterly mining revenue declined compared to $43.6 million in the same period last year, recording a loss of $23.5 million in the second quarter. (Cryptoslate)