Core Scientific, one of the industry's largest bitcoin miners, plans to file for bankruptcy Wednesday morning in Texas, according to a report by CNBC, but will continue to mine bitcoin throughout the process. While many mining companies have experienced financial distress during the bear market, Core Scientific is the first publicly listed company to declare bankruptcy. On Tuesday, bitcoin miner Greenridge reached a debt restructuring deal with NYDIG that will allow the firm to avoid bankruptcy for now. (Coindesk)
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Core Scientific to File for Bankruptcy, Continue Mining Through Process
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