Bitcoin mining company Core Scientific reached an agreement with lender NYDIG to repay its $38.6 million in outstanding debt by transferring about 27,403 miners as collateral.
The company said, "The principal of NYDIG's debt exceeds the value of Asic miner collateral. Asic collateral consists of old types of miners, which have a lower hash rate compared with new models such as S19 XP miners. The value of most miners fell by more than 80% last year. Core Scientific is also "considering opportunities to sell some of its mining facilities".
bb404 /
npub105…p0ee6
2023-02-03 03:04:53
Author Public Key
npub105vzem9vr07ksaeeczvprkek8hj0n98h7zfdg8u5ymxwmhxj0f4shp0ee6Seen on
wss://relay.nostr.bandPublished at
2023-02-03 03:04:53Event JSON
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"content": "Bitcoin mining company Core Scientific reached an agreement with lender NYDIG to repay its $38.6 million in outstanding debt by transferring about 27,403 miners as collateral.\n\n\nThe company said, \"The principal of NYDIG's debt exceeds the value of Asic miner collateral. Asic collateral consists of old types of miners, which have a lower hash rate compared with new models such as S19 XP miners. The value of most miners fell by more than 80% last year. Core Scientific is also \"considering opportunities to sell some of its mining facilities\".",
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}