Analysis of Core Scientific’s Potential Bankruptcy
Quick Take
- This is part of The Block Research’s Market Commentary series
- October 28, 2022, Core Scientific filed an 8K announcement with the Securities & Exchange Commission detailing their financial performance concerns
- Management anticipates running out of cash by the end of 2022, if not sooner
- Per today’s filing, Core Scientific will be unable to pay for some of its equipment and debt
- Core Scientific joins the list of distressed digital asset firms hampered in 2022
- For additional coverage of bankruptcies and financial woes within crypto please refer to The Block Research’s coverage of Celsius and Voyager Digital
- For additional coverage on digital asset miners please refer to The Block Research’s coverage of Riot, Marathon and Stronghold
- Disclaimer: This is a market commentary research piece and includes opinionated views from our research team. Nothing contained in this piece constitutes a solicitation, recommendation, endorsement, or offer by The Block Research
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Author: Greg Lim
