Core Scientific Resumes Nasdaq Trading After Successful Restructuring
Texas-based Bitcoin mining company, Core Scientific, will return to Nasdaq for trading on January 24th after successfully restructuring and reducing $400 million in debt. The restructuring plan involved converting debt from equipment lenders and convertible note holders into equity, with big names like BlackRock and B. Riley involved in the process. Core Scientific plans to further reduce debt burdens through additional measures, including the conversion of remaining convertible debt and using available cash to make debt payments. The company also aims to expand its Bitcoin mining capacity by deploying new miners and growing its mining capacity by 50% in the next four years.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Has Altcoin Season Started With FED Heat? Legendary Analyst Answers
Cryptocurrency analyst il Capo answered the question of whether the altcoin season has started in his statement.
How Much Will Bitcoin Price Be If Trump Wins, How Much If Harris Wins? Standard Chartered Announces Big Bull Forecast
At what price level will Bitcoin, the world's largest cryptocurrency, be after the US elections? Here are analysts' opinions.
Vitalik Buterin’s Wallet is Active Again: Detected in Onchain Data
Another movement was detected in the cryptocurrency wallets of Ethereum founder Vitalik Buterin. Here are the details.
BREAKING: End of an Era – Terraform Labs Approved For Bankruptcy After Settling With SEC