Crypto miner Core Scientific expected to emerge from bankruptcy in January

21/12/2023 22:39

Crypto miner Core Scientific said on Thursday it expected to recover from bankruptcy in mid-to-late January. The Austin, Texas-based company filed for bankruptcy protection last year amid plummeting Bitcoin prices, rising energy costs for Bitcoin mining and unpaid debts to U.S. cryptocurrency lender Celsius Network, one of its largest customers. one. Core Scientific said it has reached an agreement in principle with all key stakeholders on the terms of the global settlement. "This global settlement resolves a key obstacle to our anticipated exit from Chapter 11 bankruptcy in January," CEO Adam Sullivan said in a statement. ” Core Scientific was one of the casualties of last year’s high-profile crash that roiled the crypto token market. (Reuters)

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