Core Scientific – Page 2

NY law firm investigates potential ‘securities fraud’ at Core Scientific

The investigation was prompted by a report from Culper Research, which alleged that Core Scientific had “wildly oversold” its mining and hosting businesses.

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Core Scientific to Shut Down 37,000 Bitcoin Mining Rigs Belonging to Bankrupt Crypto Lender Celsius

Core Scientific plans to shut down 37,000 bitcoin mining rigs belonging to now-defunct crypto lender Celsius, according to an agreement between the two bankrupt firms. Celsius owes Core Scientific approximately $7.8 million for energy and hosting costs, as the crypto lender has been unable to make regular payments as outlined in the hosting contract. Celsius […]

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2 Bitcoin Mining Pools Command More Than 53% of BTC’s Total Hashrate

Bitcoin’s hashrate has jumped from the low 170 exahash per second (EH/s) recorded this week, to above the 300 exahash range after a number of bitcoin mining operations from Texas temporarily went offline on Dec. 25, 2022. Furthermore, three-day hashrate distribution statistics recorded on Dec. 29, 2022 indicate that two mining pools command more than […]

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Bitcoin ASIC miner prices hovering at lows not seen in years

ASIC miners’ price per terahash has fallen more than 80% from its peak in 2021 as Bitcoin mining machines continue to flood the marketplace.

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Bitcoin hashrate recovers after big freeze shuts down miners

The Bitcoin network hashrate has returned to 241.29 EH/s after a temporary 38% fall to 170.60 EH/s from a weekly peak of 276.40 EH/s.

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Bitcoin Hashrate Slides as Texas Miners Curtail Hashpower to Bolster the Grid

Bitcoin’s total hashrate tapped a low of 170 exahash per second (EH/s) on Dec. 25, as reports noted that bitcoin miners in Texas curtailed their hashpower during a massive winter freeze. Statistics show that close to 100 exahash dropped off the network but rebounded from the 170 EH/s low to 240 EH/s by 12:00 p.m. […]

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BTC miner Core Scientific gets interim nod for $37.4M bankruptcy loan

The loan would allow Core Scientific to keep its mining and hosting operations afloat while it restructures.

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Core Scientific Files for Bankruptcy Protection, Firm Plans to Continue Mining Bitcoin to Pay Down Debt

On Dec. 21, 2022, one of the largest bitcoin mining operations in the industry, Core Scientific, filed for Chapter 11 bankruptcy protection in the Southern District of Texas. According to the filing, Core Scientific has roughly 1,000 to 5,000 creditors and its estimated assets are worth between $1-10 billion. Core Scientific Voluntarily Files for Chapter […]

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Bitcoin Miner Greenidge Enters Non-Binding Debt Restructuring Deal With NYDIG

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 agreement, NYDIG will obtain 2.8 exahash per second (EH/s) of Greenidge’s mining capacity, and Greenidge further entered into a hosting deal with NYDIG for the same 2.8 […]

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Core Scientific in ‘substantial doubt’ of continuing without more cash

The Bitcoin miner warned its cash reserves may be depleted by the end of 2022 or sooner as it cuts back on spending, including not making loan repayments.

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