The bear market in crypto has taken a toll on the mining business, significantly on leveraged corporations, as excessive power costs coupled with a low bitcoin worth have led to consolidation and capitulation. Core borrowed about $77.5 million from NYDIG to purchase mining tools beginning October 2020, however has primarily stopped paying off the loans because the finish of the third quarter.
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Core Scientific to Hand Crypto Mining Rigs to NYDIG to Extinguish $38.6M in Debt
