Core Scientific seals $77M Bitmain deal for 27K Bitcoin mining rigs By Cointelegraph

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Core Scientific seals $77M Bitmain deal for 27K Bitcoin mining rigs

Published Sep 22, 2023 06:36AM ET Updated Sep 23, 2023 08:20AM ET

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Core Scientific seals $77M Bitmain deal for 27K Bitcoin mining rigs

Cryptocurrency mining hardware maker Bitmain and bankrupt crypto mining firm Core Scientific have agreed on a combination of equity and cash to finalize the deal on expanding mining facilities.

The deal between the two mining companies will see Bitmain supply 27,000 Bitcoin (BTC) mining rigs for $23 million in cash, along with $53.9 million worth of common stock of the bankrupt firm. Apart from the mining hardware purchase deal, Bitmain and Core Scientific have signed a new hosting arrangement to assist Bitmain’s mining operations.

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