The post Core Scientific to Exit Bankruptcy in January 2024! appeared first on Coinpedia Fintech News
Core Scientific is all set to emerge from bankruptcy proceedings in mid-January 2024. The company has reached an agreement with shareholders for the distribution of convertible notes and stock, which will see shareholders receive new shares exchanged at a ratio of 25:1 to provide $1.08 per pre-exchange share. Noteholders will receive $1.628 on every $1 of face value for convertible notes due in April and $1.201 per $1 face value for notes with an August due date. The company currently owns over 199,000 ASICs and self-mines around 32 Bitcoins per day.
Source: https://coinpedia.org/crypto-live-news/core-scientific-to-exit-bankruptcy-in-january-2024/