Bankrupt crypto miner Core Scientific would transfer its ownership of 27,403 mining machines to crypto lender NYDIG to pay off a $38.6 million loan, according to a Feb. 2 court filing. Core Scientific said the transferred machines are “no longer necessary” for its “current operations and future business plans.” It added that the “principal of…
Publicly traded crypto miner Core Scientific filed for Chapter 11 bankruptcy protection on Dec. 21 at the Southern District of Texas bankruptcy court. According to court documents, the miner has liabilities between $1 billion- $10 billion. It has over 1,000 creditors, with the largest unsecured claim owed to B. Riley Financial –the bankrupt firm owes…
Core Scientific, one of the largest publicly traded Bitcoin miners, might not make it until the end of the year. In its quarterly report filed with the SEC, the company said “substantial doubt” exists about its ability to continue going if it fails to raise liquidity. “However, the ability to raise funds through financing and…