Core Scientific in ‘substantial doubt’ of continuing without more cash
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.
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2 Lenders Claim Bitcoin Miner Iris Energy Defaulted on Equipment Loans Worth $103 Million
Another bitcoin mining company is dealing with financial issues as Iris Energy’s Form 6-K filing with the U.S. Securities and Exchange Commission (SEC) shows the company could face default on…
Publicly Listed Bitcoin Miner Core Scientific Publishes Update After SEC Filing That Mentions ‘Restructuring’
On Nov. 7, 2022, the bitcoin mining firm Core Scientific released the company’s October update after the company’s Form 8-K U.S. Securities and Exchange Commission (SEC) filing on Oct. 26,…
Publicly-Listed Bitcoin Miner Argo Blockchain’s Stock Gets Downgraded, Firm Offloads Close to 4,000 Bitmain Miners
On Oct. 31, 2022, the publicly-listed bitcoin miner Argo Blockchain revealed the firm’s attempt to obtain $27 million in a scheduled financing deal fell through. According to the company’s October…
Core Scientific may consider bankruptcy following uncertain financial condition: Report
The mining firm has cited the low price of Bitcoin, electricity costs, an increase in the BTC hash rate, and litigation with Celsius playing a role in its financial difficulties.
Core Scientific Shares Downgraded After SEC Filing Hints at Possible Bankruptcy
One of the largest publicly listed bitcoin miners, Core Scientific, has shaken investors with a recent filing with the U.S. Securities and Exchange Commission that raises the possibility the company…
Celsius bankruptcy case Trustee slams $3M employee bonus motion
The Trustee has objected to the retention bonus, citing a lack of sufficient information within the motion to warrant such a high payout and a lack of clarity around whether…
Crypto miners in Texas shut down operations as state experiences extreme heat wave
ERCOT reported that wind generation in Texas was “generating significantly less," potentially leaving the state unable to meet energy demands during triple-digit temperatures.
Core Scientific sold $167M worth of Bitcoin holdings in June
The sale left the firm with 1,959 BTC at the end of the second quarter, a more than 75% drop when compared with its reported 8,058 BTC holdings as of…
Mining Report Shows Bitcoin’s Electricity Consumption Decreased by 25% in Q1 2022
At the end of May last year, Tesla’s Elon Musk convinced bitcoin industry leaders to form a Bitcoin Mining Council (BMC) and in mid-July, the BMC launched its public services…