.Core_Scientific will file for bankruptcy on Wednesday in Texas, but continue to mine bitcoin through process: CNBC. thesamreynolds reports.
Core Scientific's stock is down 98% on-year, while rival Riot Blockchain is down 83%, and Marathon Digital Holdings is down 88%.a $72 million financing plan that would allow for Core Scientific to avoid bankruptcy.
"In our opinion, the vast majority of Core Scientific's issues are self-imposed and can be corrected in conjunction with an open, transparent discussion and ongoing participation with its creditors and equity holders," B Riley said in a statement. In early November, bondholders began working with restructuring attorneys at Paul Hastings to propose an alternative to bankruptcy,
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