BTC miner Core Scientific gets interim nod for $37.4M bankruptcy loan
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A U.S. bankruptcy court has granted Bitcoin (
Notably, the firm reports a loss of $434.8 million in Q3 which when added to losses from the previous two quarters, witht total losses reaching $1.71 billion so far this year. As such, the firm indicated in late November that it was most likely heading towards bankruptcy without a fresh injection of cash.
The firm has reportedly mined almost 12,000 BTC this year, marking a significant improvement on the 5,769 BTC mined in 2021, however that of course has not been able to save Core Scientific from its financial woes.
