Bitcoin Miner Core Scientific collects $ 500 million from Blackrock, Ibex Investors (report)
Bitcoin Miner Core Scientific collects $ 500 million from Blackrock, Ibex Investors (report)
The Bitcoin-Miner-Core Scientific based in the USA-reportedly secured a fundraising campaign of $ 500 million, which was led by leading financial actors such as Blackrock, Apollo Capital, Kensico Capital, IBEX Investors and others.
The company applied for insolvency protection at the end of last year, but continued the dismantling of BTC to repay the creditors. According to a court file, which was seen by Preserver-Spaces = "True"> Bloomberg , BlackRock and several other top-class investors around 500 million US dollar, by buying his secured convertible bonds. Ibex Investors made the biggest contribution to financing with almost $ 100 million. Blackrock awarded $ 38 million through bond sales, while Apollo Capital Management bought $ 22.6 million or $ 11 million in April and August.
Both asset managers gave away a total of $ 23 million to Core Scientific's debtor-in-owner so that the company can continue to reduce Bitcoin despite its problems. The persistent Baisse and the drop in prices of the primary digital assets have significantly harmed the crypto miner, which span-preserver-spaces "> stored for insolvency protection Chapter 11 a few days before Christmas. Nevertheless, the company experienced a price increase in its shares in the following weeks. Corzq is currently being traded at around $ 0.11 compared to $ 0.05 almost a month ago. The market capitalization of around $ 41 million is far from the $ 4.3 billion that was achieved in early 2022 (after listing on Nasdaq). Regardless of the billion dollar losses registered in 2022, the dismissed employees and the bankruptcy application reduced Core Scientific in December 1,435 BTC. In comparison, production in November was 1,356 BTC. It also increased its self-mining hashrates from 15.4 EH/s to 15.7 eh/s. In addition, the company provided data center-colocation services and business support for 91,000 customer-owned ASIC servers (in November) and 80,500 (in December), which was issued about 37 % or 34 % of the functioning mining fleet during these months. These servers produced 795 BTC in November and 931 Btc. The results came despite the numerous closures of data centers, which represented 5,828 and 17,179 megawatt hours (in November and December). Core announced that it has teamed up with supply companies to ensure the stability of the power grid. The main facilities remain in Texas, Kentucky, Georgia, North Dakota and North Carolina. . Traditional financial companies flock to help
Mining remains unimpressed