Core Scientific, one of the largest publicly traded crypto mining companies in the U.S., is filing for bankruptcy protection.
Core Scientific
The company is still generating positive cashflow, but that cash is not sufficient to repay the financing debt owed on equipment it was leasing, according to a person familiar with the company's situation. The company will not liquidate, but will continue to operate normally while reaching a deal with senior security noteholders, which hold the bulk of the company's debt, according to this person, who declined to be named discussing confidential company matters.
Core, which primarily mints bitcoin, has seen the price of the token drop from an all-time high above $69,000 in Nov.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Bitcoin Miner Greenidge Enters Non-Binding Debt Restructuring Deal With NYDIG – Mining Bitcoin NewsThe bitcoin mining operation Greenidge Generation Holdings Inc. has executed a restructuring deal with NYDIG.
Les mer »
Bitcoin mining report: Stocks mixed as bitcoin ralliesHere's how crypto mining companies performed on Tuesday, Dec. 20.
Les mer »
Commodity Analyst Mike McGlone Suggests 'Bitcoin Appears Poised to Resume Its Inclination to Outperform' – Bitcoin NewsBloomberg Intelligence senior commodity analyst, Mike McGlone, believes a “warm spell” is coming in terms of bitcoin markets.
Les mer »
Bitcoin mining report: Most miners tracked Bitcoin lowerHere's how crypto mining companies performed on Monday, Dec. 19.
Les mer »
Crowdfunding gets leg up from Lightning Addresses on BitcoinA new type of Bitcoin address called 'Lightning Address' has been introduced to the Bitcoin community.
Les mer »
Researchers push preprint reviews to improve scientific communicationsMany researchers see promise in preprint reviews—which represent a radical shift in scholarly communication—but the widespread adoption of the practice faces some thorny obstacles.
Les mer »