Core Scientific emerges from bankruptcy, plans to re-list on Nasdaq by end of month
Core Scientific, a bitcoin miner that suffered during the crypto winter, has received approval for its Chapter 11 reorganization plans from a Texas bankruptcy court. The company plans to re-list its shares on Nasdaq by the end of the month. Under the reorganization plan, existing debt will be paid in full and existing shareholders will receive about 60% of the new company's equity. The company expects to maintain its position as the largest publicly traded bitcoin miner by computing power, with plans to operate 182,000 mining rigs this year and almost 1.1 million in 2027, and to generate nearly $600 million in annual revenue by 2024 and up to almost $1 billion by 2027.
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
Trump and Musk dine with Microsoft CEO to discuss AI, cybersecurity and American jobs
Share link:In this post: Microsoft Corp.’s Satya Nadella joins Donald Trump and Elon Musk for the discussion of AI and cybersecurity The statement said that the conversation was based on several topics, including the US firm’s pledge to invest $80 billion in AI data centers globally. Over $50 billion of that investment is expected to support American jobs.
Litecoin ETF may be near SEC approval after Canary Funds amends the filing
Share link:In this post: Canary Capital filed an amended S-1 registration statement for its Litecoin ETF on January 13. Senior ETF analyst at Bloomberg Eric Balchunas believes the SEC’s recent response to Canary’s Litecoin S-1, improves the chances that a Litecoin ETF will be approved soon. Canary Capital also filed its S-1 registration statement for Solana and XRP ETFs in October.
Arkansas legislators propose bill to prohibit crypto mining near military sites
Share link:In this post: Arkansas lawmakers introduced Senate Bill 60 (SB 60) to establish a 30-mile buffer zone around military facilities to limit cryptocurrency mining operations near sensitive sites. The bill was prompted by a crypto mining plant near Little Rock Air Force Base, raising concerns about noise pollution and environmental degradation. Similar actions have occurred elsewhere in the US, with federal and state officials addressing security risks and environmental concerns tied to crypto minin
Apple and Google remove Huione Group crypto apps after alleged $24 billion illicit marketplace operation
Share link:In this post: Apple and Google have removed apps developed by Huione Group from their marketplaces in response to fraud allegations. Huione Group is believed to be behind Huione Guarantee, a Telegram-based marketplace with about $24 billion in money laundering and other fraudulent activities. The removal of these apps raises questions about app stores’ responsibility in monitoring and preventing the distribution of apps linked to illegal activities.
Trending news
MoreCrypto prices
More
