Core Scientific emerges from bankruptcy, plans to re-list on Nasdaq by end of month

Core Scientific, a bitcoin miner that suffered during the crypto winter, has received approval for its Chapter 11 reorganization plans from a Texas bankruptcy court. The company plans to re-list its shares on Nasdaq by the end of the month. Under the reorganization plan, existing debt will be paid in full and existing shareholders will receive about 60% of the new company's equity. The company expects to maintain its position as the largest publicly traded bitcoin miner by computing power, with plans to operate 182,000 mining rigs this year and almost 1.1 million in 2027, and to generate nearly $600 million in annual revenue by 2024 and up to almost $1 billion by 2027.