A group of <-rte-company state="{"_id":"00000184-344c-d6b7-a197-3c4ceb740000","_type":"00000160-4b23-d8bd-adfd-4b3348fd0000"}">Core Scientific Inc. convertible bondholders is working with restructuring lawyers at <-bsp-bb-link state="{"bbHref":"bbg://securities/1135L%20US%20Equity","_id":"00000184-344c-d6b7-a197-3c4ceb740001","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">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, <-bsp-bb-link state="{"bbDocId":"RKFGBUDWRGG0","_id":"00000184-344c-d6b7-a197-3c4ceb750000","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">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 ...
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