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The debtors appointed Adam Sullivan, a managing director at investment banking firm XMS Capital Partners, to assume the role of president amid the firm’s bankruptcy proceedings.
The bankrupt crypto mining firm believes that the long-term benefits outweigh the immediate loss of handing over the machines.
The investigation was prompted by a report from Culper Research, which alleged that Core Scientific had "wildly oversold" its mining and hosting businesses.
Bitcoin’s hashrate has jumped from the low 170 exahash per second (EH/s) recorded this week, to above the 300 exahash range after a number of bitcoin mining operations from Texas…
ASIC miners' price per terahash has fallen more than 80% from its peak in 2021 as Bitcoin mining machines continue to flood the marketplace.
The Bitcoin network hashrate has returned to 241.29 EH/s after a temporary 38% fall to 170.60 EH/s from a weekly peak of 276.40 EH/s.
Bitcoin’s total hashrate tapped a low of 170 exahash per second (EH/s) on Dec. 25, as reports noted that bitcoin miners in Texas curtailed their hashpower during a massive winter…
The loan would allow Core Scientific to keep its mining and hosting operations afloat while it restructures.
The bitcoin mining operation Greenidge Generation Holdings Inc. has executed a restructuring deal with NYDIG, according to an announcement published on Tuesday. According to the non-binding term sheet agreement, NYDIG…
The Bitcoin miner warned its cash reserves may be depleted by the end of 2022 or sooner as it cuts back on spending, including not making loan repayments.