Is core scientific going out of business?

Cryptocurrency miner Core Scientific Inc., one of the world’s largest bitcoin miners, said Thursday that it may seek bankruptcy protection as it contends with the prolonged slump in bitcoin prices coupled with an increase in electricity costs.

Is core scientific insolvent?

It is becoming increasingly likely that Core Scientific, one of the world’s largest bitcoin miners, is facing the threat of insolvency.

What are core scientific's woes?

Core Scientific's woes reflect the depressed state of the bitcoin mining industry, with firms squeezed between high electricity costs and a muted bitcoin price. One of Core Scientific's peers, Compute North, filed for bankruptcy in September owing as much as $500 million to at least 200 creditors.

Will Core Scientific sell its mining facilities after bankruptcy?

Core Scientific, one of the world’s largest publicly-listed Bitcoin miners, said it may sell some of its mining facilities under development that could be worth up to a gigawatt of power after it filed for Chapter 11 bankruptcy protection on Wednesday, The Block reported, citing the firm’s chief mining officer.