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Public Bitcoin mining companies plagued with $4B of collective debt
The recent bankruptcy filing of Bitcoin (BTC) miner Core Scientific, despite a $72 million relief offer from creditors, raised questions about the overall health of the Bitcoin mining community amid a prolonged bear market. Marathon, the second-biggest debtor, has $851 million in primarily convertible note liabilities. As a result, Marathon prevents bankruptcy by allowing the debt holders to convert the convertible notes to stocks. Public Bitcoin mining companies with the highest debt-to-equity ratios. Source: Cointelegraph
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