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Cryptocurrency miner Core Scientific files for bankruptcy as industry contagion bites

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Core Scientific said it would not liquidate and would continue to operate normally, as it expects to enter into a restructuring support agreement with its creditors

The company’s shares, which have lost roughly 98 per cent of their value so far in 2022, fell another 14 per cent in premarket trading.

One of the largest creditors of Core Scientific, B. Riley Financial Inc, had offered $72-million last week to avoid the bitcoin miner’s bankruptcy.

 

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