Core Scientific to Exit Bankruptcy in January 2024!

The post Core Scientific to Exit Bankruptcy in January 2024! appeared first on Coinpedia Fintech News

Core Scientific is all set to emerge from bankruptcy proceedings in mid-January 2024. The company has reached an agreement with shareholders for the distribution of convertible notes and stock, which will see shareholders receive new shares exchanged at a ratio of 25:1 to provide $1.08 per pre-exchange share. Noteholders will receive $1.628 on every $1 of face value for convertible notes due in April and $1.201 per $1 face value for notes with an August due date. The company currently owns over 199,000 ASICs and self-mines around 32 Bitcoins per day.

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