Core Scientific, one of the largest bitcoin miners by computing power, has filed for bankruptcy. Also, Sam Bankman-Fried will begin the extradition process. LedesmaLyllah writes
for Chapter 11 at Southern District of Texas bankruptcy court. The miner's estimated liabilities are from $1 billion to $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, operating 143,000 mining runs and hosting another 100,000 is the biggest one yet and is set to send shockwaves in an already crumbling industry.Gemini has presented a plan to Genesis and Digital Currency Group
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