Bitmain's $54 Million Investment Rescues Bankrupt Bitcoin Miner Core Scientific
Bankrupt bitcoin miner Core Scientific has announced plans to purchase 27,000 bitcoin mining servers from Bitmain for $77 million. The deal, which includes cash and common stock, is part of Core Scientific's bankruptcy plan. The company hopes to emerge from bankruptcy as early as this month. The acquisition would potentially add 4.1 exahashes to Core Scientific's hash rate, strengthening its contribution to the Bitcoin Network.