Bitcoin miner Core Scientific is filing for Chapter 11 bankruptcy — but plans to keep mining
KEY POINTS Core Scientific, one of the largest publicly traded crypto mining companies in the U.S., is filing for bankruptcy. The company still generates positive cash flow, and plans to continue mining while repaying debtholders. The stock is down 98% this year as plunging crypto prices and rising energy prices made mining a much harder business. In this article CORZ -0.0036 (-3.1662%) Follow your favorite stocks CREATE FREE ACCOUNT Core Scientific’s 104 megawatt Bitcoin mining data center in Marble, North Carolina Carey McKelvey Core Scientific , one of the largest publicly traded crypto mining companies in the U.S., is filing for Chapter 11 bankruptcy protection in Texas early Wednesday morning, according to a person familiar with the company’s finances. The move follows a year of plunging cryptocurrency prices and rising energy prices. Core Scientific mines for proof-of-work cryptocurrencies like bitcoin . The process involves powering data centers across the country, packed wit