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Bondholders of Troubled Core Scientific Working With Lawyers
Summary: Convertible bond holders of bitcoin miner Core Scientific are in talks with restructuring attorneys, according to people with knowledge of the situation. Core said they are exploring alternative methods for raising capital and that bankruptcy is possible. Core’s situation reflects a decline in the bitcoin mining industry that resulted from the bear market and rising ...
Convertible bond holders of bitcoin miner Core Scientific are in talks with restructuring attorneys, according to people with knowledge of the situation.
Core said they are exploring alternative methods for raising capital and that bankruptcy is possible.
Core’s situation reflects a decline in the bitcoin mining industry that resulted from the bear market and rising energy prices. Just recently, bitcoin miner Argo Blockchain lost a $27 million deal, causing its shares to plummet. Before that, miner Compute North filed for bankruptcy, with a total of $500 million to at least 200 creditors.
Author: Katie Lin
Tags: Argo Blockchain,Attorney,bear market,Bitcoin Miner,Bitcoin Mining,Compute North,Convertible Bond,Core Scientific,energy,Holders,Price,Restructuring
Link: Bondholders of Troubled Core Scientific Working With Lawyers [Copy]
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