Core Scientific, Inc.

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Case overview

Case Number:

4:22-bk-90341

Court:

Texas Southern

Nature of Suit:

Firms

Companies

Government Agencies

Sectors & Industries:

  1. February 03, 2023

    Crypto Mining Co. To Swap 27,000 Rigs To Wipe $38M Debt

    Bankrupt cryptocurrency mining enterprise Core Scientific Inc. asked a Texas judge to approve a deal that would give 27,000 computer mining rigs to a lender owed $38 million in exchange for canceling the company's debt.

  2. February 01, 2023

    Improved Bitcoin Price Leads To New DIP For Core Scientific

    Digital currency mining business Core Scientific Inc. received permission Wednesday for a new $70 million Chapter 11 loan, telling a Texas judge that its liquidity has improved markedly since its bankruptcy began in December due to the rising price of bitcoin.

  3. December 22, 2022

    Insurers Slam Scouts Plan; FTX To Start Clawback Actions

    Insurers who didn't sign on to the Chapter 11 plan of the Boy Scouts of America slammed the $2.5 billion settlement trust in an appellate briefing, cryptocurrency exchange FTX said it will begin seeking clawback of prepetition distributions, and cosmetics giant Revlon Inc. reached a deal with creditors for a Chapter 11 plan. This is the week in bankruptcy.

  4. December 22, 2022

    Core Scientific Gets OK To Tap Ch. 11 Financing

    A Texas bankruptcy judge Thursday gave cryptocurrency miner Core Scientific Inc. permission to begin to tap into $37.5 million of its debtor-in-possession financing after hearing it had formally inked a restructuring agreement with its secured noteholders.

  5. December 21, 2022

    Crypto Mining Co. Core Scientific Hits Ch. 11 With $989M Debt

    Cryptocurrency miner Core Scientific Inc. has become the latest victim of the "crypto winter," filing for Chapter 11 protection in Texas bankruptcy court with what it says are intentions to trim its more than $989 million in debt with an equity-swap plan.