Bitcoin mining company Core Scientific announced that Bitmain has agreed to invest $53.9 million in the company to expand the long-term cooperation between the two companies. According to the terms of the acquisition agreement, Bitmain will supply Core Scientific with 27,000 S19J XP 151 TH Bitcoin mining machines in exchange for $23.1 million in cash and $53.9 million in Core Scientific common stock, the value of which will be determined based on the Chapter 11 restructuring plan approved by the bankruptcy court. It is expected that the plan will be approved in the fourth quarter of this year. In addition, Bitmain has signed a new hosting agreement with Core Scientific to support its mining business.
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Bitmain Will Invest $53.9 Million in Core Scientific
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