Moelis Is Tapped by Creditors to Bitcoin Miner Core Scientific

A group of Core Scientific Inc. convertible bondholders has tapped Moelis & Co to facilitate debt talks with the struggling Bitcoin miner, according to people with knowledge of the situation, who asked not to be named discussing private matters.

Core Scientific, one of the world’s largest Bitcoin miners, warned last week that it could run out of cash by the end of the year and may file for bankruptcy. The company has been hurt by depressed Bitcoin prices, rising electricity costs, increased competition and litigation with bankrupt crypto lender Celsius Network LLC.

The same convertible bondholder group earlier banded ...