Bitmain's $54 Million Investment Rescues Bankrupt Bitcoin Miner Core Scientific
TL;DR
Bankrupt bitcoin miner Core Scientific has announced plans to purchase 27,000 bitcoin mining servers from Bitmain for $77 million. The deal, which includes cash and common stock, is part of Core Scientific's bankruptcy plan. The company hopes to emerge from bankruptcy as early as this month. The acquisition would potentially add 4.1 exahashes to Core Scientific's hash rate, strengthening its contribution to the Bitcoin Network.
- Bankrupt Bitcoin Miner Core Scientific to Buy 27K Bitmain Servers for $77M CoinDesk
- Bitmain to Invest $54 Million in Core Scientific, Inc. as Part of New Supply Contract Business Wire
- Bitmain to Invest $54 Million in Bankrupt Bitcoin Mining Company Core Scientific Cryptonews
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