Bitcoin miner Core Scientific hopes to emerge from bankruptcy this quarter

Core Scientific plans to release from the bankruptcy by the end of the year. The mining company listed company, which continues to operate, has extracted 965 bitcoins at September.

This Friday, the bitcoin miner goes bankrupt Core Scientific has published its results for September 2023. Last month, the company mined 965 BTC in self-production and around 461 tokens via hosted machines for customers.

Our team continues to demonstrate an unwavering commitment to maximizing the availability of our total fleet of more than 206,000 miners,” Core Scientific CEO Adam Sullivan said in a statement.

In September, as part of its investment in Core Scientific, Bitmain sold 27,000 ASICs to the miner for $23 million. At the same time, the Chinese manufacturer invested $54 million in the bankrupt company.

Core Scientific, one of the largest bitcoin miners, filed for bankruptcy in December 2022 as the BTC price reached a level not seen since 2020 at around $17,000.

The firm said it was working on its Chapter 11 reorganization process with the ambition “to emerge in the fourth quarter”.

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