Key Takeaways Two Bitcoin Mining Giants, Marathon Digital and Core Scientific, have now found themselves entangled in a lawsuit. Patent Hoarder, Malikie Innovations has sued the mining firm for using the Elliptic Curve Cryptography (ECC) employed by the Bitcoin blockchain,…
Key Takeaways Leading Bitcoin Miner Core Scientific released its first quarter results for 2023. The crypto miner reported total revenue of $179.3 million, which is a significant surge from the $58.6 million reported back in Q1 2023. As per the…
Key Takeaways Core Scientific has defied the odds, rising from the depths of Chapter 11 bankruptcy in December 2022 to claim the title of North America’s foremost publicly listed cryptocurrency mining company. Their remarkable comeback includes the mining of 19,274…
An agreement between Celsius Network and Core Scientific has been revealed to end a lengthy legal dispute.
Key Takeaways In a move to steer the company back on track, Core Scientific has announced the appointment of Adam Sullivan as its new CEO, replacing co-founder Mike Levitt in the role. The decision comes as the bitcoin mining giant…
Key Takeaways Core Scientific, a prominent BTC miner, has recently filed for a Chapter 11 bankruptcy plan, unveiling its aims for emerging from the financial crisis. After negotiations with key stakeholders, the bankruptcy plan was submitted to the United States…
Key takeaways: According to recent court filings, Core Scientific, a crypto mining company currently undergoing Chapter 11 bankruptcy proceedings, is targeting a September exit from bankruptcy. The firm anticipates an additional $46 million as a result of favorable market conditions.…
The loan would primarily be used to pay off its existing debtor-in-possession (DIP) financing loan
The coupons can be used only to pay 30% of any new order of S19 Miners from Bitmain
The loan comes from a group of creditors who hold over 50% of Core Scientific’s convertible notes.
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