Bitcoin miner Core Scientific files for bankruptcy

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 bankruptcy petition, according to the company’s announcement, resulted from a combination of a declining bitcoin price, rising electricity costs needed to power its data centers and “failure by certain of its hosting customers to honor their payment obligations.”

The bitcoin specific data processing…


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