Core Scientific reaches agreement in principle with noteholder, equity groups

By Sarah Lizee

Olympia, Wash., Sept. 20 – Core Scientific, Inc. has reached an agreement in principle on Tuesday with an informal group of noteholders and an equity committee with respect to the terms of the company’s Chapter 11 plan, according to an 8-K filed with the Securities and Exchange Commission.

The announcement comes after two months of mediation between the parties.

The company said it will continue to negotiate with the parties to document the agreement, resolve certain open issues and revise the plan and disclosure statement to incorporate the changes.

The mediation will be extended to facilitate documentation of the agreement. The disclosure statement hearing, which is set for Sept. 27, will also be adjourned to another time.

Core Scientific is an Austin, Tex.-based Bitcoin mining company that filed bankruptcy on Dec. 21, 2022 in the U.S. Bankruptcy Court for the Southern District of Texas under Chapter 11 case number 22-90341.

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