Streetbeat News

CORZQ

Core Scientific Inc

Employees

205

Industry

Data Processing, Hosting, and Related Services

Open

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Mkt cap

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High

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P/E Ratio

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52-wk high

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Low

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52-wk low

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Bankrupt Bitcoin miner Core Scientific Inc (OTC:CORZQ) has announced the purchase of 27,000 Bitcoin mining servers from Bitmain in a deal valued at $77 million. The deal includes $23.1 million in cash and $53.9 million in Core Scientific common stock. The stock's per-share value will be determined in line with a bankruptcy court-approved Chapter 11 plan of reorganization. The newly acquired servers are expected to enhance Core Scientific's mining fleet's efficiency, especially in anticipation of the upcoming Bitcoin halving event.

Portfolio Pulse from Murtuza Merchant

September 22, 2023 | 4:20 pm

Crypto mining providers Celsius Mining and Core Scientific have reached a speculative $45 million settlement deal for a long-standing legal dispute. Under the agreement, Celsius will pay $14 million in cash and the remaining to be adjusted debt. The deal is yet to be approved by Texas and New York judges. The agreement involves the sale of Core Scientific’s Bitcoin mining data center site in Texas to Celsius and the settlement of all existing litigation between the two parties.

Portfolio Pulse from Khyathi Dalal

September 15, 2023 | 7:02 pm

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