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Bitcoin miner Core Scientific is filing for Chapter 11 bankruptcy — but plans to keep mining
Core Scientific, one of the largest publicly traded crypto mining companies in the U.S., is filing for Chapter 11 bankruptcy protection in Texas early Wednesday morning, according to a person familiar with the company’s finances. The move follows a year of plunging cryptocurrency prices and rising energy prices.
Core Scientific mines for proof-of-work cryptocurrencies like bitcoin.
Comments
Oh no. So much economic value destruction. /s