Crypto miner Core Scientific to exit bankruptcy by September 2023
The latest developments led to a 7% hike in Core Scientific’s share price.
This date reportedly also accounts for a three-month extension. The bankruptcy court granted the extension in order for the company to meet its outstanding debt obligations. Lawyers representing Core Scientific revealed that the miner’s liquidity position improved considerably since it filed for bankruptcy in December 2022, which led to the reorganization plan.“The Debtors and their advisors have also commenced the claims reconciliation process to size the general unsecured claims pool to make the confirmation process smoother and increase distributions to stakeholders on the Plan effective date.
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