{"id":10359,"date":"2024-01-24T08:15:23","date_gmt":"2024-01-24T08:15:23","guid":{"rendered":"https:\/\/coinengineer.io\/blog\/?p=10359"},"modified":"2024-01-24T08:15:58","modified_gmt":"2024-01-24T08:15:58","slug":"core-scientific-to-continue-trading-on-nasdaq","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/core-scientific-to-continue-trading-on-nasdaq\/","title":{"rendered":"Core Scientific to Continue Trading on Nasdaq!"},"content":{"rendered":"

Core Scientific, a Bitcoin<\/strong> mining company, announced on Wednesday that it had returned to Nasdaq<\/strong> and resumed trading following its restructuring efforts after its 2022 bankruptcy filing.<\/p>\n

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You might like: PYTH: What Future Price Actions Could Bring?<\/em><\/strong><\/span><\/a><\/p>\n<\/blockquote>\n

The company said in a statement on Tuesday that its restructuring plan had allowed it to reduce its debt by $400 million<\/strong> by converting its equipment loan and convertible noteholder debt into equity.<\/p>\n

Core Scientific<\/strong> said its plan could further reduce its debt by converting the remaining convertible debt, providing investor<\/strong>s with valid guarantees, and using its existing cash to pay down debt.<\/p>\n

The CEO of Core Scientific, Adam Sullivan<\/strong>, said in a statement: “We are ready to execute on our pragmatic growth plan, continue to prepare for the upcoming halving, and create value by converting energy into high-value computing for bitcoin<\/strong> mining and other potential applications.”<\/p>\n

Core Scientific<\/strong>, which currently operates mining facilities with a capacity of 724 megawatts in five states in the United States, plans to increase its total mining capacity by more than 50%<\/strong> over the next four years as it plans to bring new Bitcoin miners online.<\/p>\n

In December 2022, the company filed for Chapter 11 bankruptcy protection after declines in cryptocurrency prices and a series of market failures. Major<\/strong> creditors included BlackRock<\/strong> and investment bank B. Riley.<\/strong><\/p>\n

Shares of bitcoin miners Marathon Digital and Riot Platforms have fallen this month following bitcoin volatility after the United States approved multiple spot bitcoin exchange-traded<\/strong> funds on January 10. Marathon Digital’s shares have fallen 29.74%<\/strong> since the beginning of the month, and Riot Platforms<\/strong> has fallen 26.77%<\/strong>.<\/p>\n

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Also, in the comment section, you can freely share your comments and opinions about the topic. Additionally, don\u2019t forget to follow us on\u00a0Telegram<\/strong><\/a>,\u00a0YouTube<\/strong><\/a>\u00a0and\u00a0Twitter<\/strong><\/a> for the latest news and updates.<\/em><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Core Scientific, a Bitcoin mining company, announced on Wednesday that it had returned to Nasdaq and resumed trading following its restructuring efforts after its 2022 bankruptcy filing. You might like: PYTH: What Future Price Actions Could Bring? 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