Bitcoin miner Core Scientific gets court approval for restructuring
A U.S. bankruptcy judge on Tuesday approved Core Scientific's Chapter 11 restructuring, allowing the bitcoin mining company to cut $400 million in debt and emerge from bankruptcy by the end of January. U.S. Bankruptcy Judge Christopher Lopez approved the company's bankruptcy plan at a court hearing in Houston, Texas, saying it "provides a tremendous recovery for both unsecured creditors and also equity holders," who usually fare poorly in bankruptcy. Core Scientific was one of several crypto companies along with major crypto exchange FTX and crypto lenders Celsius Network...