Mining company Core Scientific files for creditor protection in court
One of the largest publicly traded cryptocurrency mining companies in the US, Core Scientific, plans to file for creditor protection in Texas bankruptcy court. According to CNBC, Core Scientific is unable to pay off debt for rented mining equipment despite generating positive cash flow. Because the funds at the disposal of Core Scientific are not enough to service the growing debt, the company plans to file for protection from creditors in the bankruptcy court of…
