Bankrupt bitcoin miner Core Scientific got the green light from a bankruptcy judge to move forward with a $70 million debtor-in-possession (DIP) loan from B. Riley. Representatives of the compan...
Tag: Core Scientific
Celsius to store 20,000 mining machines, remains optimistic about new hosting sites
The mining arm of bankrupt lending firm Celsius will temporarily store 20,000 rigs it’s retrieving from Core Scientific and is optimistic about finding new hosting locations. The company h...
Celsius sells bitcoin mining machines for $1.3 million
The bitcoin mining arm of bankrupt crypto lender Celsius is selling machines worth $1.3 million. The firm is letting go of nearly 2,700 “new-in-box” MicroBT M30S units, according to ...
Expect More Bitcoin Miners To Go Bankrupt in 2023
It’s no secret crypto miners are struggling, and more casualties are expected next year. But as the bear market trudges on, not all companies in the segment face dire circumstances, industry watchers ...
Stocks tumble as Core Scientific files for bankruptcy
Most Bitcoin mining stocks tracked by The Block declined on Wednesday, as Core Scientific filed for Chapter 11 bankruptcy protection. Bitcoin was up and trading a bit under $16,800 by market clo...
Core Scientific eyes sale of up to 1 gigawatt worth of facilities amid bankruptcy: Exclusive
Core Scientific may sell up to 1 gigawatt worth of its sites under development after filing for Chapter 11 bankruptcy protection, The Block has learned. “The likelihood of us selling asset...
Publicly traded crypto miner Core Scientific files for Chapter 11 bankruptcy
Core Scientific, one of the world’s largest publicly traded bitcoin miners, filed for Chapter 11 bankruptcy protection as this year’s slump in crypto prices claimed another victim. T...
Bitcoin Miner Core Scientific To File Bankruptcy, Stock Tanks 30%
Core Scientific, one of the world’s biggest bitcoin mining stocks, is reportedly preparing to file for bankruptcy on Wednesday after struggling under the weight of its debt. The Texas-based firm’s cas...
Bitcoin miner Core Scientific set to file for Chapter 11 bankruptcy protection: CNBC
Bitcoin miner Core Scientific is planning to file for Chapter 11 bankruptcy protection in Texas in the early hours of Wednesday morning, according to a CNBC report. One of the largest publicly ...
Core Scientific continues its rally
Despite most mining stocks falling, Core Scientific continued its rally by finishing up 72% today. Bitcoin was valued at around $17,400 at the close on Thursday, Dec. 15, according to data from...
B. Riley offers $72 million to mining firm Core Scientific
B. Riley Financial, one of Core Scientific’s largest creditors, argued that bankruptcy is not the the answer to Core Scientific’s woes and is instead offering it a new financial lifeline. ...
Core Scientific rallies alongside other industry stocks
Most bitcoin mining stocks tracked by The Block saw price increases on Wednesday. Bitcoin was trading at around $17,800 by market close, according to data from TradingView, after spiking to $18,...
Argo Blockchain tumbles 38% after bankruptcy gaffe
Bitcoin mining stocks tracked by The Block showed mixed results with about half a dozen trading up and the others down. Argo Blockchain’s shares plunged 38% in the UK and 37% in the U.S. i...
The Block: Bitcoin mining stock report: Friday, December 2
Bitcoin mining stocks tracked by The Block were mixed, with several stocks seeing double-digit gains. Bitcoin was trading around $17,030 at the time of market close. (BTC to USD ch...
BlockFi’s bankruptcy is the latest blow for a bleeding Bitcoin mining industry
As if crashing crypto assets, high energy prices and increasing difficulty in mining weren’t enough, now Bitcoin miners face the fallout from BlockFi’s bankruptcy protection filing. ...
Bitcoin Price Drop Tests Miners’ Diamond Hands
Bitcoin miners are facing a tough few weeks ahead as meager prices threaten to render the network service unfeasible for anyone but the largest operators. After shedding a quarter of its value through...
Core Scientific warns of ‘substantial doubt’ to continue operations, posts $435 million loss
Bitcoin miner Core Scientific will need extra liquidity to keep operations going past November 2023 — and it’s facing a steep uphill battle to do so. “The ability to raise funds thro...
The Block: Bitcoin mining stock report: Thursday, November 10
Most bitcoin mining stocks tracked by The Block traded up on Thursday. Bitcoin was trading at about $17,687 around market close, according to data from TradingView. BTCUSD chart by ...
Celsius Mining claims hosting provider Core Scientific violated bankruptcy terms
Celsius Mining, the mining arm of the bankrupt crypto lender, filed a motion Wednesday against its hosting provider Core Scientific, accusing the company of breaching their agreement and violating ban...
Core Scientific signs hosting deal worth $50 million per year
Bitcoin miner Core Scientific closed a deal to host 75 megawatts worth of hardware capacity. The agreement will bring in a total of $50 million per year in revenue once the miners are fully installed,...
Bitcoin’s Next Headwind: Struggling Crypto Miners
Text size Miners spend an average of $15,000 to produce each coin, JPMorgan estimates. Dreamstime The plummeting price of Bitcoin could force crypto miners to sell the tokens to fund operations, furth...
Bitcoin Mining Stocks Look Cheap. Why Investors Are Still Skeptical.
Text size Costs per Bitcoin mined range from $4,500 to $16,000 across the industry. Dreamstime A recovery in the price of Bitcoin should fuel gains for mining companies that process transactions on th...