"Core Scientific Successfully Emerges From Bankruptcy, Relists Shares in Crypto Market"

Core Scientific, a major bitcoin miner, has received approval for its Chapter 11 reorganization plans and expects to re-list its shares on Nasdaq by the end of the month. The company will pay off its existing debt in full, and existing shareholders will receive about 60% of the new company's equity. Core Scientific, which filed for bankruptcy in December 2022, is emerging stronger as the price of bitcoin has risen to $43,000. The company anticipates significant growth, with plans to operate 182,000 mining rigs this year and nearly 1.1 million by 2027, expecting annual revenue to reach nearly $1 billion by that time.