Core Scientific is preparing to sell some of its facilities
After filing for bankruptcy protection, the miner is going to sell some of its capacity at facilities that are being prepared for commissioning.
The total volume could be as much as 1 gigawatt. Only sites that are due to be launched next year are being considered for sale. According to The Block, there are no plans to sell the existing sites, which have a capacity of about 850 mW.
Since the bankruptcy filing, the company’s stock has fallen 75.53% to $0.051. As recently as last year, Core Scientific securities were valued at $11.34.
Core Scientific is one of the largest miners facing a liquidity crisis due to the simultaneous decline in bitcoin values and rising electricity prices. Following the bankruptcy filing, the company has expressed its intention to continue managing its mining operations as well as providing hosting services, as these are the areas that generate positive cash flow.
Recall that back in October, Miner warned that resources could run out before the end of the year.
