Crypto miner Core Scientific to exit bankruptcy

Crypto mining firm Core Scientific Inc. won court approval to exit bankruptcy and implement a restructuring plan that trims about $400 million in debt from its balance sheet and fully repays company creditors thanks largely to a turnaround in Bitcoin prices over the last year.

Judge Christopher Lopez said Tuesday he’d confirm Core Scientific’s Chapter 11 exit plan, a decision that clears the firm to emerge from bankruptcy later this month. Core Scientific said during a court hearing the company anticipates its shares will be re-listed on the Nasdaq on Jan. 24.