Core Scientific May 2024 Self-Mining Bitcoin Earned 447 Vs 803 MoM; Bitcoin Sold 453 Vs 847 MoM; Bitcoin Sales Proceeds ~$29.4M Vs ~$55.8M MoM
Portfolio Pulse from Benzinga Newsdesk
Core Scientific reported a decrease in self-mined Bitcoin for May 2024, earning 447 BTC compared to 803 BTC in the previous month. The company also sold fewer Bitcoins, with 453 BTC sold versus 847 BTC in the prior month, resulting in sales proceeds of approximately $29.4 million compared to $55.8 million month-over-month.
June 05, 2024 | 1:13 pm
News sentiment analysis
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NEGATIVE IMPACT
Core Scientific's self-mined Bitcoin earnings and sales have decreased significantly in May 2024, leading to lower sales proceeds. This could negatively impact the company's short-term stock price.
The significant decrease in both self-mined Bitcoin and sales proceeds suggests a potential decline in revenue, which could negatively impact investor sentiment and the stock price of Core Scientific in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Core Scientific's reduced Bitcoin sales in May 2024 may indicate a lower supply of Bitcoin in the market, which could potentially support Bitcoin prices in the short term.
The reduction in Bitcoin sales by Core Scientific could lead to a lower supply of Bitcoin in the market, potentially supporting Bitcoin prices in the short term.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50