Core Scientific Exits Bankruptcy, Set to Begin Restructuring
The restructuring plan will allow Core Scientific to cut $400 million in debt by equitizing the said amount in secured and unsecured claims.
Bitmain Technologies Ltd. announces their Antminer S9, the world’s first Bitcoin miner using 16nm chips.
The restructuring plan will allow Core Scientific to cut $400 million in debt by equitizing the said amount in secured and unsecured claims.
Bitmain’s investment represents not only a significant financial commitment but also a strategic move to fortify its partnership with Core Scientific.
Companies like Circle, Ripple, and the non-fungible tokens (NFTs) marketplace OpenSea have happier employees.
The Chinese tax authority claim Bitmain was issued with a tax violations notice in August last year but has withheld paying individual tax income of about $2.4 million.
Bitmain said that it will be replacing the previous batch with 14,000 S19j Pro miners for delivery by the first quarter of 2023 at no additional cost to TeraWulf.
Adam Back did not comment on the exact size of the offering and who the top backers are this time. However, he made it clear that the funds will be used to expand the company’s mining capabilities.
The increased hash rate indicates maximum security on the Bitcoin network.
Ethereum Classic has done a lot to distinguish itself from the Ethereum blockchain over time, and its core role has continued to diverge from those of Ethereum over the past few years.
The launch of Bitmain AntMiner E9 comes a year after the announcement. Also, the launch comes just before Ethereum’s move to the Proof-of-Stake blockchain raising doubts over its future sales.
Jihan Wu has seen the good and bad times in the digital currency industry and he believes even if 95% of projects fail, the remaining 5% will be worth so much to cover all forms of losses whatsoever.