Two U.S. bitcoin miners can avoid bankruptcy

Core Scientific was able to raise $72 million in credit resources to help avoid bankruptcy.
As reports The Wall Street Journal, U.S. bitcoin miner Core Scientific was able to raise $72 million in credit facilities. The funds presented make it highly likely that the mining company will be able to avoid bankruptcy – exactly what those who actively bought its shares on December 15, when they were momentarily rising 70% in value overnight, are convinced of.
The company has already received $40 million in its accounts. The remaining $32 million will be provided on the condition that the bitcoin miner will “freeze” payments for a period of time to those counterparties that have provided mining equipment for lease.
Another mining company, U.S.-based Argo Blockchain, is also likely to be able to stay afloat, as reached agreements to sell some of its mining machines and receive cash. The company said it would be happy to avoid having to go through Chapter 11 bankruptcy proceedings for its U.S. operations under the relevant financial solvency law.
Argo Blokchain shares were temporarily removed from the range of securities available to investors on the London Stock Exchange in December. However, the company said it has requested a return to listing and expects it to happen “as soon as possible.”
As a reminder, bitcoin miner TeraWulf, which is expanding its operations, earlier said, told about the break-even point of cryptocurrency mining No. 1.

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