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Cryptocurrency custody firm Anchorage Digital and major mining manufacturer Bitmain could take equity stakes in Core Scientific as part of the firm\u2019s restructuring plan.<\/p>\n
According to an Aug. 8 filing in the United States Bankruptcy Court for the Southern District of Texas, Bitmain plans to sell Core Scientific 27,000 S19j XP Miners in exchange for roughly $23 million in cash and $54 million in company equity through new common interests. In addition, Anchorage Digital was the only company that had lent funds to Core Scientific that chose an equitization option for its claim.<\/p>\n
Other firms, including BlockFi and Mass Mutual Asset Finance, opted for their claims to be handled through negotiated settlements. The proposed plan will likely be subject to a vote by creditors before approval, though the debtors said it would reduce its capital needs by more than $30 million by offering equity in lieu of cash and reaching a settlement with Celsius Network.<\/p>\n
\nToday\u2019s $CORZQ<\/a> daily self-mined #Bitcoin<\/a> for the last reported 24-hour period (7-AUG-2023): 31.9 pic.twitter.com\/nLox88iC22<\/a><\/p>\n