Core Scientific Files For Chapter 11 Bankruptcy On June 21

Core Scientific Files For Chapter 11 Bankruptcy On June 21

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The plan, referred to as a joint Chapter 11 plan of reorganization, is awaiting approval and is pending a vote before parties can approve or disapprove it.
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The company credited rising Bitcoin prices, a high network hash rate, and lower energy costs for improved financial performance.
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The plan will provide “complete and final” satisfaction to debtor-in-possession claims.
Core Scientific, an insolvent Bitcoin miner, has filed a potential Chapter 11 reorganization plan with a bankruptcy court.
The Recognition Plan By Core Scientific Isn’t Approved Yet
According to a document filed with the bankruptcy court on June 21, related …
 

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