A U.S. bankruptcy court has granted Bitcoin (BTC) miner Core Scientific interim approval to access a $37.5 million loan from existing creditors to fund the firm amid its liquidity issues. Core Scienti...
Tag: Miner
Bitcoin Miner Core Scientific to File for Bankruptcy but to Continue Mining
By the end of trading on Tuesday, the company’s market capitalization had dropped to $78 million from a $4.3 billion valuation in July 2021 when the company went public. Major crypto mining company Co...
Bitcoin miner Northern Data says it has no financial debt, expects $204M in revenue for 2022
According to a Dec. 21 letter to shareholders from CEO Aroosh Thillainathan, German Bitcoin (BTC) mining company Northern Data expects to generate upward of $202 million to $206 million in revenue fro...
Bitcoin miner Core Scientific files for bankruptcy
Publicly traded bitcoin mining company Core Scientific (CORZ) filed for Chapter 11 bankruptcy protection in a federal bankruptcy court in the Southern District of Texas early Wednesday morning. The ba...
Bitcoin Miner Core Scientific Files for Chapter 11 Bankruptcy
Core Scientific, one of the largest publicly traded cryptocurrency mining companies in the United States is filing for Chapter 11 bankruptcy. The company however plans to keep mining. According to rep...
Inside Bitcoin Miner Core Scientific’s Prearranged Chapter 11 Bankruptcy
Most of Core Scientific’s customers that already have machines or contracts with the company’s hosting business won’t be affected by the bankruptcy, said Cann. The company, however, is considering sel...
Germany-based Bitcoin miner Northern Data forecasts €190M revenue for 2022
Bitcoin miner Northern Data, based out of Germany, anticipates revenue of €190-194 million ($201.4 million to $205.64 million) for the year 2022. Information has been made public by Aroosh Thillainat...
Bitcoin miner Core Scientific files for bankruptcy, has over $1B in liabilities
Publicly traded crypto miner Core Scientific filed for Chapter 11 bankruptcy protection on Dec. 21 at the Southern District of Texas bankruptcy court. According to court documents, the miner has liabi...
Bitcoin Miner Core Scientific Apparently Declares Chapter 11 Bankruptcy
According to reports, Core Scientific has submitted a petition for protection under Chapter 11 of the U.S. bankruptcy code in the state of Texas due to declining revenues and prices of bitcoin. Only a...
Bitcoin Miner To Sell Rigs Worth $60M To Cover NYDIG Debt
US bitcoin mining firm Greenridge has entered a non-binding agreement to settle a $74 million debt with NYDIG as concerns mount over its financial longevity. The firm, which controls its own power pla...
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 reportedly filing for Chapter 11 bankruptcy
Just days after a creditor offered to help Core Scientific avoid possible bankruptcy, reports have emerged confirming the Bitcoin (BTC) mining company’s fate. Core Scientific is reportedly filing for ...
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...
Another Bitcoin Miner Teeters on the Edge of Bankruptcy
(Bloomberg) — Greenidge Generation Holdings Inc., once one of the largest public Bitcoin miners in the US, warned that it may seek bankruptcy protection while entering into debt restructuring ta...
Bitcoin Miner Core Scientific Files for Bankruptcy: Report
Once prominent Bitcoin miner – Core Scientific – is the latest one planning to file Chapter 11 bankruptcy protection in Texas. Mining companies are experiencing turmoil and a lingering crisis of confi...
Major Publicly Traded Bitcoin Miner Files For Chapter 11
What many suspected after the news broke in late October has now become a reality. One of the largest publicly traded Bitcoin mining companies in the U.S., Core Scientific Inc. (CORZ), has filed for C...
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 ...
Bitcoin miner Greenidge reaches debt restructuring agreement with NYDIG
Greenidge Generation (GREE) has agreed with NYDIG to restructure a $74.7 million debt owed to the crypto trading firm. NYDIG to acquire Greenidge mining machines In a press statement released on Dec. ...
Bitcoin miner Greenidge signs $74M debt restructuring agreement with NYDIG
According to a Dec. 20 filing with the United States Securities and Exchange Commission, Bitcoin (BTC) miner Greenidge has reached an agreement with its creditor, fintech firm NYDIG, to restructure ap...
Bitcoin Miner Greenidge Approaches NYDIG to Restructure $74M Debt
Greenidge suffers from serious debts of $74 million. Approaches NYDIG to restructure the debts to avoid bankruptcy for 2023. Greenidge is no longer an independent BTC mining firm. Though the year 20...
Bitcoin Miner Greenidge Enters Non-Binding Debt Restructuring Deal With NYDIG – Mining Bitcoin News
The bitcoin mining operation Greenidge Generation Holdings Inc. has executed a restructuring deal with NYDIG, according to an announcement published on Tuesday. According to the non-binding term sheet...
Greenidge deal with lender NYDIG would see miner shift to hosting
Troubled bitcoin miner Greenidge Generation signed a non-binding deal to sell a majority of its mining machines to lender NYDIG in an effort to pay down $74 million in debt. The miner would then...
Bitcoin Miner Greenidge Reaches Debt Restructuring Deal With NYDIG as Bankruptcy Looms
Under the deal, which is currently in the form of a non-binding term sheet, NYDIG will purchase 2.8 exahash per second (EH/s) worth of Greenidge’s bitcoin mining machines, and extinguish $57 mil...
Crypto Market to Face Acute Miner Capitulation as the Bitcoin Set to Crash After December 25!
The crypto market has been range-bound recently, with no clear buying or selling pressure on Bitcoin’s price. Some indicators are also becoming bearish, which could potentially push the price lower. ...
New Heat Bit Crypto Miner Available for Purchase
Heat Bit – a company that recently launched a personal heater to be sold to customers – has announced that its product comes with a twist… It’s the first personal heater out there designed to mine bit...
Crypto Miner Core Scientific Sees Stock Surge 200% on Creditor Offer to Fund Insolvency
Core Scientific experienced a four-day stock surge after one of its creditors offered to pull it out of its financial mess. Core Scientific (NASDAQ: CORZ) recently experienced a 200% stock surge over ...
Bitcoin Miner Capitulation Is An Exaggerated Fear: Analyst
Jaran Mellerud of Hashrate Index recently released a ‘comprehensive analysis’ on the thesis that a Bitcoin miner capitulation could put massive selling pressure on the market, causing a crash. The to...
Stock price for troubled Bitcoin miner Core Scientific surges 200%
Bitcoin (BTC) miner Core Scientific’s stock has soared nearly 200% in the past four days, following the positive reception for a Dec. 14 financing proposal from a current creditor who is hoping the fi...
Bitcoin Miner Core Scientific Receives $72M Offer From Creditor to Avoid Bankruptcy
One of Core Scientific’s largest lenders – B Riley – has offered to loan out $72 million to the embattled Bitcoin miner in a bid to avoid a potentially unnecessary and value-destructive bankruptcy pro...
Bitcoin miner offered loans in order to avoid bankruptcy
Core Scientific, one of the world’s largest Bitcoin mining companies, has been offered a lifeline to avoid bankruptcy. Finance services platform B. Riley has offered Core Scientific a $72 million debt...
Bitcoin miner Core Scientific offers $72 million to stay solvent
In order to help the ailing business escape bankruptcy, investment bank B Riley, one of Core Scientific’s (CORZ) key creditors, has suggested a new $72 million financing package. B Riley: Most struggl...
Creditor offers Bitcoin miner Core Scientific $72M to avoid bankruptcy
Financial services platform B. Riley has offered Bitcoin (BTC) miner Core Scientific $72 million in financing to avoid bankruptcy and preserve value for Core Scientific stakeholders. B. Riley, a top l...