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Core Scientific has filed for bankruptcy | by Marcel Boer | The Capital | Dec, 2022

by Index Investing News
December 22, 2022
in Cryptocurrency
Reading Time: 2 mins read
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Publicly traded bitcoin mining company Core Scientific (CORZ) filed for Chapter 11 bankruptcy protection in a federal bankruptcy court in the Southern District of Texas early Wednesday morning.

The bankruptcy petition, according to the company’s announcement, resulted from a combination of a declining bitcoin price, rising electricity costs needed to power its data centers and “failure by…



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