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… Source link
Read More »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… Source link
Read More »Core Scientific shares fall 76% after the bitcoin miner warns it can’t pay debt
Core Scientific (CORZ) will not make debt payments due in October and November, according to a new securities filing. Shares of the bitcoin mining company were down as much as 76% on Thursday morning. Core said it’s exploring alternatives to its capital structure and is working with financial and legal advisers but noted that it might have to file for bankruptcy. — in which case common stock holders would completely lose their investments. “Given the uncertainty regarding the Company’s… Source link
Read More »The biggest and most important scientific breakthroughs of 2020
It’s been a year none of us will ever forget. 2020: When everyone became an armchair epidemiologist. While most of us were preoccupied with the coronavirus pandemic, the world of science kept humming along, quietly expanding humanity’s understanding of our universe. Outside of medical science – which took much of the spotlight this year – there were plenty of interesting, fun and even monumental moments. Here’s some of the best breakthroughs you might have missed. Oldest solid material… Source link
Read More »Ocugen Establishes Vaccine Scientific Advisory Board – Yahoo Finance
Benzinga 6 Reasons Why You Should Not Buy A Home Owning a home might be the epitome of the American dream, but it’s not engraved in stone! So, if you’ve been toying with the idea of giving up homeownership, then, by all means, go for it. However, given that homeownership is perceived as the hallmark of wealth, giving it up is set to bring you a lot of controversies. Individuals in your circle might even criticize. But regardless of what the greater population thinks, here are good reasons… Source link
Read More »US Bitcoin Mining Firm Core Scientific to Triple Capacity With Massive 59,000-Machine Order
TipRanks 3 “Strong Buy” Stocks That Are Still Undervalued After a year that most of us want to forget, 2021 is shaping up to start with stability and an even keel. The election is safely behind us, the new Biden Administration promises a ‘no drama’ approach, a closely divided and hyper-partisan Congress is unlikely to enact any sweeping legislation, reform or otherwise, and COVID vaccines are ready for distribution. It’s a recipe for a calm news cycle.Which makes it a perfect time to… Source link
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