UPDATE: Core Scientific, which accounts for about 10% of computing power on the bitcoin network, listed estimated assets and liabilities of $1 billion- $10 billion, it its bankruptcy filing. By egreechee and Aoyon_A
Core Scientific , one of the largest bitcoin miners by computing power, filed for bankruptcy as the crypto winter continues to take its toll on the industry.
The company filed for Chapter 11 at Southern District of Texas bankruptcy court. The miner's estimated liabilities are between $1 billion- $10 billion, according to the filing. It has around 1,000-5,000 creditors, with the largest unsecured claim coming from investment bank B. Riley.The bankruptcy of Core Scientific, which accounts for about 10% of computing power on the bitcoin network,
and hosting another 100,000 is the biggest one yet and is set to send shockwaves in an already crumbling industry.
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