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Bitcoin Miner Core Scientific Bondholders Tap Legal Adviser (1)

Nov. 1, 2022, 2:45 PM

A group of Core Scientific Inc. convertible bondholders is working with restructuring lawyers at Paul Hastings as the company weighs a potential bankruptcy, according to people with knowledge of the situation.

Investors were rattled after Core Scientific, one of the world’s largest miners of Bitcoin, warned last week that it may run out of cash by the end of the year and could seek relief by filing for bankruptcy. The company’s stock slumped to a low of roughly 20 cents following the disclosure.

Representatives for Core Scientific and Paul Hastings didn’t respond to requests for comment. Reorg earlier reported on ...