Core Scientific's bankruptcy plan offers equity stakes for Bitmain and Anchorage

Core Scientific’s bankruptcy plan offers equity stakes for Bitmain and Anchorage

Anchorage Digital, Custodian companies for cryptocurrencies, e Bitmainleading mining producer, May acquire shares in Core Scientific As part of the company’s restructuring plan.

According to a document filed on August 8 in the United States Bankruptcy Court for the Southern District of Texas, Bitmain intends to sell Core Scientific. 27,000 S19j XP miners in exchange for approximately $23 million in cash and $54 million in company stock Thanks for the new common interests. In addition, Anchorage Digital was the only major scientific lender to choose the equity option for its application.

other companies including BlockFi and Mass Mutual Asset Financehas opted in to manage their claims through negotiated agreements, The proposed plan will be put to vote by creditors before it is approved, even if the creditors have said they will cut It seeks to raise more than $30 million in capital by offering shares in exchange for cash and reaching an agreement with Celsius Network.

daily quote of $CORZQ #bitcoin Self-mining for the last reported 24-hour period (7-Aug-2023): 31.9

— Core Scientific (@Core_Scientific) 8 August 2023

in December 2022 original scientist Filed for Chapter 11 bankruptcy citing declining revenue and falling prices Bitcoin (B T c). The company was facing financial problems in the weeks prior to filing for bankruptcy due to bankruptcy. Celsius And the collapse of the crypto market. The company used to be one of the largest mining companies by hash rate and continued to mine BTC even during the restructuring process.





Leave a Reply

Your email address will not be published. Required fields are marked *