Core Scientific agrees $70M loan facility from B. Riley

Core Scientific is seeking emergency relief from the bankruptcy court for it to secure a replacement loan facility. According to court documents, the miner has agreed to a $70 million credit facility from investment banking firm B. Riley. The company will use the funds to pay off an existing loan to avoid defaulting, Core Scientific, […]

One of the original Bitcoin core developers losses all his BTC in hack

Bitcoin OG and core developer, Dashjr, claimed virtually all his bitcoins were stolen. The hackers accessed the developer’s PGP key. On November 17, 2022, Dashjr, noted his server had been compromised. A Bitcoin OG and one of the original Bitcoin’s core developers, Luke Dashjr, has claimed that he virtually lost all his bitcoins after his Pretty […]

Why are Bitcoin miners struggling so much? Core Scientific file for bankruptcy

Key Takeaways Core Scientific was worth over $4 billion last summer, but is down 985 form all-time highs Rising electricity costs are hiking costs with falling Bitcoin prices hurting revenue With hash rate near all-time highs, the entire mining industry is struggling The crypto winter continues to take victims. The latest to succumb to Chapter […]