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Core Scientific moves for September bankruptcy exit, expects $46M boost

Published 05/23/2023, 11:31 PM
Updated 05/24/2023, 01:20 AM
BTC/USD
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A restructuring plan for bankrupt Bitcoin (BTC) miner Core Scientific could be finalized by September and it expects to exit proceedings with an additional $46 million due to recent favorable market conditions.

In a May 22 filing in a Texas Bankruptcy Court, Core Scientific’s lawyers said its liquidity position has improved considerably since it filed for bankruptcy and as a result, it plans to file a reorganization plan in the near future.

The next steps in Core Scientific’s Chapter 11 proceedings. Source: Stretto
Core Scientific’s initial liquidity estimates vs current. Source: Stretto

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