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    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

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    How to Play Treeverse: Beginner’s Guide to Gameplay, NFTs, and Tokenomics

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    The Future of Gambling: How Casino Sites Are Leveraging Web3

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    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

    GameFi Q1 2025 Report: User Growth, Chain Activity, and Revenue Trends

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    Brain-Computer Interface Market Value, Trends, and Demand Insights | Scope By 2032

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    Beyond Bots: Meta Motivo and the Dawn of Humanlike Digital Life

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    Meta Cancels Next-Gen Headset Amidst Changing Market Landscape

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    SYKY Bridges Digital and Physical Fashion with Apple Vision Pro

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    Guild of Guardians Leads Despite Dip as SuperRare and Panini Skyrocket

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    NFT sales pump 37% to $144.8m, Immutable dethrones Ethereum

    Pudgy Penguins Joins Lufthansa for Real Travel Rewards

    Pudgy Penguins Joins Lufthansa for Real Travel Rewards

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    Solsniper Closes NFT Marketplace After 3.5 Years, Shifts Focus to Trading Bot Development

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    Ethereum Token Platform Zora Sues Deloitte Over AI Trademark Dispute

    OpenSea sunsets ‘Deals,’ other features in OS2 shakeup

    OpenSea sunsets ‘Deals,’ other features in OS2 shakeup

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    Animoca Brands partners with Cross the Ages to support the launch of blockchain game

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    Doodles NFT Sticker Launch on Telegram Sells Out in 24 Hours

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    Crypto Casinos Made Over $80 Billion in 2024

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    A16z-backed Spekter Games founder shares Telegram gaming ethos

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    Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

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    MetaMask Users Can Now Link Binance and OKX Accounts to Their Portfolio Dashboard

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    NetMindAI Partners with Neurochain AI to Revolutionize Decentralized AI Services

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    Bitcoin Miner Bit Digital Diversifies Into AI for ‘Substantially Higher Margin’ Than Mining

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    How decentralization can mitigate ‘dystopic’ artificial intelligence risks: SingularityNET exec

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    UAE emirate launches new free zone for digital assets, Web3 and AI

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    A Step-by-Step Guide for Beginners

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    Long and Short Positions in Crypto Explained for Beginners

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    What Is Fully Diluted Valuation (FDV) in Crypto?

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    What Does FUD Mean in Crypto? The Fear, Uncertainty, and Doubt Effect

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    What Is Crypto Staking? How to Earn Crypto by Holding It

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    What Are Liquidity Pools? A Guide to DeFi Explained Simply

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    What Is Yield Farming in Crypto? A Beginner’s Guide to DeFi Income

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    What Is Asset Tokenization? Types, Why It Matters Now [2025]

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    Bitcoin Sees Historic Rise in Shark and Whale BTC Wallets, Records New High: Santiment

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    An SBF Testimony Could Add ‘Decades’ to His Prison Sentence, According to Lawyer – Here’s Why

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    Estate of Bankrupt Crypto Exchange FTX Abruptly Stakes Over $144 Million in Solana (SOL)

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    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

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    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    Enhancing Security in Online Gambling with Blockchain Technology

    Enhancing Security in Online Gambling with Blockchain Technology

    Blushush by Sahil Gandhi and Ohh My Brand by Bhavik Sarkhedi Partner to Revolutionize Brand Strategy and Personal Branding

    Blushush by Sahil Gandhi and Ohh My Brand by Bhavik Sarkhedi Partner to Revolutionize Brand Strategy and Personal Branding

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    How to Play Treeverse: Beginner’s Guide to Gameplay, NFTs, and Tokenomics

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    Intellivix Targets Global AI Surveillance Market with ‘False Alarm Elimination’ Gen AMS

    The Future of Gambling: How Casino Sites Are Leveraging Web3

    The Future of Gambling: How Casino Sites Are Leveraging Web3

    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

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    GameFi Q1 2025 Report: User Growth, Chain Activity, and Revenue Trends

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    Brain-Computer Interface Market Value, Trends, and Demand Insights | Scope By 2032

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    Shib: The Metaverse – Part of the Expanding Shiba Inu Ecosystem

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    Experience to Earn: Everdome’s Metaverse Frontier

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    Beyond Bots: Meta Motivo and the Dawn of Humanlike Digital Life

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    Exploring NetVRk: What Is Behind This AI-Driven Virtual Universe?

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    Council of Europe Highlights Metaverse’s Impact on Privacy and Democracy

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    Meta Cancels Next-Gen Headset Amidst Changing Market Landscape

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    Carrieverse and Disney Ink Content Deal

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    SYKY Bridges Digital and Physical Fashion with Apple Vision Pro

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    Somnia Launches Playground App to Empower Metaverse Creators

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    FC Barcelona unveils Barca Pass crypto wallet, NFT avatars

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    Guild of Guardians Leads Despite Dip as SuperRare and Panini Skyrocket

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    Official Hyperliquid NFTs Hit All-Time High of $65,000 on OTC Desks

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    NFTs Weekly Sales Surge 24% to $142M, Guild of Guardians & Immutable Dominate in Sales

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    Animoca Brands partners with Cross the Ages to support the launch of blockchain game

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    Civitas Migrates to Immutable zkEVM to Power Low-Cost, Scalable Web3 Gaming & Web3 Network Growth

    Doodles NFT Sticker Launch on Telegram Sells Out in 24 Hours

    Doodles NFT Sticker Launch on Telegram Sells Out in 24 Hours

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    Crypto Casinos Made Over $80 Billion in 2024

    A16z-backed Spekter Games founder shares Telegram gaming ethos

    A16z-backed Spekter Games founder shares Telegram gaming ethos

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    How Mobile Apps Are Quietly Adopting Web3 Tech

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    Location-Based Gaming NFTs: How GPS and Blockchain Are Changing the Way We Play

    Avalanche Game ‘Forgotten Playland’ Implements NFTs in Biggest Update Yet

    Avalanche Game ‘Forgotten Playland’ Implements NFTs in Biggest Update Yet

  • Blockchain
    Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

    Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

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    MetaMask Users Can Now Link Binance and OKX Accounts to Their Portfolio Dashboard

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    NetMindAI Partners with Neurochain AI to Revolutionize Decentralized AI Services

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    LFG Boosts Token Launches with Community Power

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    Polyhedra Network launches Proof Cloud in open beta

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    It’s a Different Sort of Olympics as Cryptographers Face Off in Polyhedra’s ‘Proof Arena’

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    SoonVerse Partners with Arris to Enhance User Experience

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    Metaplex Deploys Product Suite on Sonic SVM, Enhancing Solana’s Gaming Ecosystem

    Space and Time Becomes ZK Coprocessor in Karak’s Ecosystem

    Space and Time Becomes ZK Coprocessor in Karak’s Ecosystem

  • AI
    Bitcoin Miner Bit Digital Diversifies Into AI for ‘Substantially Higher Margin’ Than Mining

    Bitcoin Miner Bit Digital Diversifies Into AI for ‘Substantially Higher Margin’ Than Mining

    ETH Daddy Discusses Ethereum and AI

    ETH Daddy Discusses Ethereum and AI

    How decentralization can mitigate ‘dystopic’ artificial intelligence risks: SingularityNET exec

    How decentralization can mitigate ‘dystopic’ artificial intelligence risks: SingularityNET exec

    ChatGPT is a tad too enthusiastic about Ethereum’s prospects

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    UAE emirate launches new free zone for digital assets, Web3 and AI

    UAE emirate launches new free zone for digital assets, Web3 and AI

  • Guides
    What Does DCA Mean in Crypto? A Simple Breakdown – Cryptocurrency News & Trading Tips – Crypto Blog by Changelly

    A Step-by-Step Guide for Beginners

    Long and Short Positions in Crypto Explained for Beginners

    Long and Short Positions in Crypto Explained for Beginners

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    What Does FUD Mean in Crypto? The Fear, Uncertainty, and Doubt Effect

    What Does FUD Mean in Crypto? The Fear, Uncertainty, and Doubt Effect

    What Is Crypto Staking? How to Earn Crypto by Holding It

    What Is Crypto Staking? How to Earn Crypto by Holding It

    What Are Liquidity Pools? A Guide to DeFi Explained Simply

    What Are Liquidity Pools? A Guide to DeFi Explained Simply

    What Is Yield Farming in Crypto? A Beginner’s Guide to DeFi Income

    What Is Yield Farming in Crypto? A Beginner’s Guide to DeFi Income

    What Is Asset Tokenization? Types, Why It Matters Now [2025]

    What Is Asset Tokenization? Types, Why It Matters Now [2025]

    Key Innovations, Challenges, and What Comes Next

    Key Innovations, Challenges, and What Comes Next

  • Analysis
    Bitcoin Sees Historic Rise in Shark and Whale BTC Wallets, Records New High: Santiment

    Bitcoin Sees Historic Rise in Shark and Whale BTC Wallets, Records New High: Santiment

    An SBF Testimony Could Add ‘Decades’ to His Prison Sentence, According to Lawyer – Here’s Why

    An SBF Testimony Could Add ‘Decades’ to His Prison Sentence, According to Lawyer – Here’s Why

    Solana, XRP and One Ethereum Rival Leading Institutional Inflows in 2023: CoinShares Data

    Solana, XRP and One Ethereum Rival Leading Institutional Inflows in 2023: CoinShares Data

    Estate of Bankrupt Crypto Exchange FTX Abruptly Stakes Over $144 Million in Solana (SOL)

    Estate of Bankrupt Crypto Exchange FTX Abruptly Stakes Over $144 Million in Solana (SOL)

    Dogecoin Bull run

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    Benjamin Cowen Warns Majority of Altcoins Will Never See New All-Time Highs Again Amid ‘Serious Declines’

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    Top Trader Sees Bitcoin Skyrocketing 570% in Next Bull Market Amid Soaring US Debt Levels

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    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

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Bitcoin Miner Core Scientific Postpones Bankruptcy Exit Hearing

December 19, 2023
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Bitcoin Miner Core Scientific Postpones Bankruptcy Exit Hearing
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In an unexpected turn of events, Core Scientific, a prominent Bitcoin mining company in North America, is putting a pause on its planned bankruptcy exit hearing. Notably, the postponement, now set for January 10, stems from strategic settlement negotiations with key stakeholders, aiming to secure unanimous support.

READ ALSO

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Norway eyes crypto mining ban amid local firms’ heavy investments in Bitcoin

Meanwhile, this delay follows the company’s initial plan approval by three out of five pivotal groups, leaving lingering uncertainties within the unsecured creditors and B. Riley Financial camp.

Core Scientific’s Bankruptcy Exit Hearing Rescheduled

The leading Bitcoin mining firm, Core Scientific’s anticipated bankruptcy exit is encountering a delay, with the final hearing pushed from December 22 to January 10. Meanwhile, the twist in the plot comes as the company engages in “good faith” negotiations with B. Riley Financial and the creditor committee.

Notably, a recent joint notice reveals that an agreement in principle has been reached, setting the stage for a comprehensive global settlement. This development aims to garner support from all key stakeholder groups, necessitating an extension of the equity rights offering subscription deadline to December 28.

Meanwhile, this news comes amid a time when growing regulatory concerns in the crypto space have dampened the market sentiment.

Also Read: XRP Price Jumps As Whale Moves 26 Mln XRP, Price To Hit $0.62 Soon?

What Lies Ahead?

The recent agreement in principle marks a significant milestone for Core Scientific. A joint notice, stemming from continued mediation efforts, indicates that the company, the creditor committee, and B. Riley have worked towards resolving disputes and achieving a global settlement of plan issues.

See also  How Bitcoin ETFs can slingshot BTC to $45K

This breakthrough positions the crypto mining firm to move forward with the bankruptcy exit, backed by unanimous support. The subsequent rescheduling of the final hearing allows for the incorporation of updates reflective of the global settlement, ensuring a comprehensive review and endorsement by all parties involved.

For context, in October 2022, Core Scientific for the first time signaled financial distress, hinting at a potential cash shortage and the possibility of declaring bankruptcy. The decline in Bitcoin prices in 2022 and increased electricity costs have significantly impacted the company’s profitability, according to Core Scientific’s filing with the U.S. Securities and Exchange Commission (SEC) on October 27, 2022.

Also Read: Cathie Wood’s Ark Invest Sells $28M GBTC As ETF Approval Nears, Buys Jack Dorsey’s SQ

Tags: BankruptcyBitcoinCoreexitHearingminerPostponesScientific

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