The bitcoin miner Core Scientific’s SEC filing raises the possibility the company may apply for bankruptcy protection.
) seems to be leaning in the direction of filing for bankruptcy protection or some sort of restructuring process.Core Scientific filed on Oct. 26, 2022. Essentially, Core Scientific says it will not be able to make loan payments for Oct. and early November, and the team has been engaged with law firms in order to discuss a possible restructuring process or filing for bankruptcy protection.
“As previously disclosed, the Company’s operating performance and liquidity have been severely impacted by the prolonged decrease in the price of bitcoin, the increase in electricity costs, the increase in the global bitcoin network hash rate and the litigation with Celsius Networks LLC and its affiliates,” Core Scientific’s filing notes. As of Oct. 26, Core Scientific has roughly 24
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Core Scientific reveals financial distress in SEC filing, says its end may be nearCore Scientific is going through a rough patch. The Bitcoin miner has filed forms with the SEC revealing that due to several factors, it will not be able to make payments on time.
Read more »
Core Scientific's stock tanks 75% as troubled bitcoin miner floats bankruptcyShares of Core Scientific fell 75% after the bitcoin miner announced that it could run out of cash by the end of the year.
Read more »
MassMutual, BlockFi are among bitcoin miner Core Scientific's biggest creditorsCore Scientific owes about $1 billion to creditors, which include MassMutual, and has said that it won't be able to make payments by the end of the month.
Read more »
Core PCE Preview: Forecasts from six major banks, hovering around elevated levelsThe Fed’s preferred inflation gauge, the Core Personal Consumption Expenditure (Core PCE), will be published on Friday, October 28 at 12:30 GMT and as
Read more »
Analysis of Core Scientific’s Potential BankruptcyBusiness Overview Headquartered and founded in Austin, Texas, in 2017, Core Scientific is a North American digital asset miner providing infrastructure,
Read more »