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Core Scientific to Hand Crypto Mining Rigs to NYDIG to Extinguish $38.6M in Debt

Altszn.com by Altszn.com
February 4, 2023
in Bitcoin
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Core Scientific to Hand Crypto Mining Rigs to NYDIG to Extinguish $38.6M in Debt
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The bear market in crypto has taken a toll on the mining industry, particularly on leveraged firms, as high energy prices coupled with a low bitcoin price have led to consolidation and capitulation. Core borrowed about $77.5 million from NYDIG to buy mining equipment starting October 2020, but has essentially stopped paying off the loans since the end of the third quarter.



Read More: www.coindesk.com

Tags: 38.6MBitcoinBTCCoreCryptoDebtExtinguishHandMiningNYDIGRIGSScientific
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