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Benzinga
Benzinga
Business
Murtuza Merchant

Is Core Scientific Done? Bitcoin Miner Needs Cash, Warns Of Bankruptcy As Stock Plummets

Core Scientific CORE Bitcoin Celsius

Core Scientific (NASDAQ:CORZ) stock nose-dived by nearly 77% after it warned shareholders of a potential bankruptcy if it failed to improve its financial condition.

The company, one of the world’s largest Bitcoin (CRYPTO: BTC) miners, told shareholders that it can't pay off its debt and will be seeking a variety of options to address its shortfall, including hiring advisers and selling assets in an attempt to raise capital.

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