Bitmain and Anchorage Digital may participate in the acquisition of Core Scientific as part of its bankruptcy plan

Odaily Planet Daily News According to a court document filed on Tuesday, Bitmain and encryption platform Anchorage Digital are expected to acquire a stake in Core Scientific, the second largest listed bitcoin mining company. The company's revised restructuring plan is subject to a creditor vote, while many of the settlements described require court approval. Core Scientific will purchase 27,000 Bitmain Antminer S19j XP miners for $77.1 million. Once the plan goes into effect, the acquisition will be funded with $23 million in cash and $54 million in company equity. It is reported that this may be the first time that Bitmain has invested in a listed encryption mining company. The company did not immediately respond to a request for comment. In addition, Anchorage Digital is also expected to elect to convert its debt to equity in Core Scientific's bankruptcy case. (CoinDesk) Prior to news on May 23, the Core Scientific bankruptcy judge said at the hearing that the company should shorten the restructuring timetable by "at least one month" because creditors have called on it to speed up its exit from Chapter 11 bankruptcy protection procedures. Lawyers for Core Scientific said the company could reach a restructuring plan by Sept. 25.