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Core Scientific Gets OK For $37M Ch. 11 Backstop Funding

By Alex Wittenberg · November 14, 2023, 8:24 PM EST

A Texas bankruptcy judge on Tuesday approved cryptocurrency mining venture Core Scientific's plan to engage with 31 parties to secure $37.1 million aimed at backstopping an equity rights offering that will...

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Bankruptcy Scorecard

Summary

Cryptocurrency company Core Scientific hit Chapter 11 in December 2022 with more than $989 million in debt amid falling bitcoin prices and rising energy costs.

Case Number

4:22-bk-90341

Judge

Christopher M. Lopez

Venue

U.S. Bankruptcy Court for the Southern District of Texas

Capital Structure

Total Liabilities:

$1.4 billion

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Documents

Related Sections

Case Information

Case Title

Core Scientific, Inc.

Case Number

4:22-bk-90341

Court

Texas Southern

Nature of Suit

Date Filed

December 21, 2022

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