Another Bitcoin Miner Shifts To AI: Core Scientific Offloads 1,900 BTC

Core Scientific has announced that it’s looking to raise $3.3 billion through senior secured notes as it shifts its business away from Bitcoin mining. Core Scientific Is Transitioning From Bitcoin To AI Data Centers According to a press release, Core Scientific’s finance subsidiary is planning to offer $3.3 billion in senior secured notes in a […]

Miner capitulation is here. Core Scientific talks about potential bankruptcy, highlighting that cash resources will be depleted by the end of the year.

A major North American blockchain hosting provider announced its expansion by ordering over 58,000 additional S19 Series Antminers, as part of an agreement arranged with the Chinese mining hardware manufacturer. US Contract Miner Core Scientific Arranges Purchase of Over 58,000 Bitmain S19 Antminers According to the announcement, Bitmain’s deal expects to facilitate Core Scientific customers’ purchases through September 2021. The purchase agreement will bring total purchases to 76,024 next-generation bitcoin (BTC) miners, the S19 and S19 Pro Antminers for the past 16 months,....

The largest publicly traded Bitcoin miner in the U.S. by hash rate and mining fleet, Core Scientific (CORZ), issued a bankruptcy warning in a filing with the SEC on Oct. 26. Shortly thereafter, the stock took a nosedive. The stock plummeted from $1.02 to $0.22. While the CORZ stock was trading at $10.43 at the beginning of the year, it is now down 97% year-to-date. Notably, the Bitcoin price was unimpressed by the news. As NewsBTC reported, a Bitcoin miner capitulation is currently the biggest intra-market risk. Therefore, it is questionable whether the risk of a capitulation event is now....

Bitcoin miner Core Scientific announced it would be releasing daily production numbers of self-mined BTC and called for further industry transparency.