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With just over three days remaining until the halving, Core Scientific has announced its plans to enhance its Texas mining facility by an additional 72 megawatts. This project is scheduled for completion by the end of the second quarter of 2024. This expansion aims to augment the company’s existing hashpower capacity. Core Scientific Plans for … Read more
Though subject to court approval, the two firms have agreed on a settlement in which Celsius will purchase a $45-million mining data center from Core Scientific for $14 million. Go to Source
Core Scientific said favorable market conditions have increased its liquidity position and its bankruptcy restructuring plan has been revised. Go to Source Powered by WPeMatico
Core Scientific has rejected a multi-million-dollar administrative claim from Celsius Network, arguing it’s owed an even higher amount from the crypto lender. Go to Source Powered by WPeMatico
The debtors appointed Adam Sullivan, a managing director at investment banking firm XMS Capital Partners, to assume the role of president amid the firm’s bankruptcy proceedings. Go to Source Powered by WPeMatico
Millions of dollars worth of electrical equipment will be transferred to the crypto miners’ exclusive energy negotiator to settle a payments dispute. Go to Source Powered by WPeMatico
The Bitcoin miner received a letter from the SEC on Feb. 22 which highlighted accounting mistakes it made on multiple financial disclosures. Go to Source Powered by WPeMatico
The bankrupt crypto mining firm believes that the long-term benefits outweigh the immediate loss of handing over the machines. Go to Source Powered by WPeMatico
The Amesbury, Massachusetts-based Bankprov, a subsidiary of Provident Bancorp, has announced that it will no longer provide loans secured by cryptocurrency mining rigs. In a filing with the U.S. Securities and Exchange Commission (EX-99.1), Bankprov stated that revenue from its digital asset loan portfolio will continue to decrease as the company has discontinued new loan … Read more
The investigation was prompted by a report from Culper Research, which alleged that Core Scientific had “wildly oversold” its mining and hosting businesses. Go to Source Powered by WPeMatico