Data shows most of the public Bitcoin mining companies have been accumulating losses during their lifetimes.
Bitcoin Mining Firms Have Been Losing Money Over The Years
As per the latest weekly report from Arcane Research, out of the public miners in the red, Core Scientific has especially large losses of $ 1.3 billion.
The relevant concept here is of “retained earnings,” which is a measure of any firm’s total accumulated net income during its entire lifespan.
When this metric has a negative value, it means the company in question has incurred a net loss over its lifetime.