Bitcoin

One of the largest US-listed bitcoin miners has filed for bankruptcy as companies battle falling token prices and rising costs for the energy-intensive business of churning out cryptocurrencies. Core Scientific filed for Chapter 11 bankruptcy protection in Texas, where it is based, on Wednesday. The company said it planned to keep operating and producing bitcoin while it hammered out a restructuring deal with its lenders and creditors. The Nasdaq-listed crypto miner is a constituent of… Source link

Just days after creditors offered to help Core Scientific — a Bitcoin (BTC) mining company — avoid possible bankruptcy, reports emerged confirming the business’ inevitable fate. Core Scientific reportedly filed for Chapter 11 bankruptcy protection in Texas owing to falling revenue and BTC prices. On Dec. 14, Financial services platform B. Riley offered to finance Core Scientific with $72 million — $42 million with zero contingencies and $32 million with conditions — to retain the… Source link

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However, that strategy had a “questionable impact” on driving outcomes for BIT. “The most performant DAOs (Lido, Aave, Uni) have been centered on underlying core products that have large addressable markets and longevity,” the proposal stated, calling for higher priorities on “core products” related to BitDAO instead. Source link

Core Scientific’s 104 megawatt Bitcoin mining data center in Marble, North Carolina Carey McKelvey Core Scientific, one of the largest publicly traded crypto mining companies in the U.S., is filing for Chapter 11 bankruptcy protection in Texas early Wednesday morning, according to a person familiar with the company’s finances. The move follows a year of plunging cryptocurrency prices and rising energy prices. Core Scientific mines for proof-of-work cryptocurrencies like bitcoin. The process… Source link

Core Scientific’s 104 megawatt Bitcoin mining data center in Marble, North Carolina Carey McKelvey Core Scientific, one of the largest publicly traded crypto mining companies in the U.S., is filing for Chapter 11 bankruptcy protection in Texas early Wednesday morning, according to a person familiar with the company’s finances. The move follows a year of plunging cryptocurrency prices and rising energy prices. Core Scientific mines for proof-of-work cryptocurrencies like bitcoin. The process… Source link

This is an opinion editorial by Hector Alvero, a Bitcoin educator who serves as co-host of the Broward County Bitcoiners meetup. For most of us, walking the path of our individual Bitcoin journey has changed us in profound ways. We look more toward the future by improving our health, creating closer connections with those we care about (or reconnecting with them), and engaging in activities that represent our Bitcoin values. If you are looking for an activity that embodies these values in a… Source link

About 17% of Bitcoin’s total circulating supply is now held by retail investors, according to recent public blockchain data curated by analytics firm, Glassnode. “Not perfect yet, but solid for a 12-year-old asset and definitely trending in the right direction,” tweeted Will Clemente, an analyst at Reflexivity Research, in response to the data. “Bitcoin’s supply disperses over time, while fiat’s holder base concentrates to whales over time.” A Glassnode chart shared by Clemente shows… Source link

Permissionless is the brainchild of Blockworks and Bankless. Over 5,500 people attended the inaugural event in 2022, making Permissionless the world’s largest DeFi conference.  What sets Permissionless apart? It’s a crypto native’s paradise, crafted specifically for both builders and investors who […] Source link

Editor’s Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today’s must-read news and expert opinions. Sign up here! (Kitco News) – Global asset prices trended higher on Tuesday as markets managed to flip the script and head higher after an early bout of weakness brought on by a move from the Bank of Japan to adjust the cap on its 10-year government bond. The central bank’s actions inflamed already existent… Source link