Why Bitcoin-Linked Stock Core Scientific Is Tanking Today

Core Scientific Inc (NASDAQ: CORZ) shares are trading lower Wednesday after the company filed for Chapter 11 bankruptcy. What Happened: Following a comprehensive review of potential alternatives and “exhaustive discussions” with various shareholders, the company expects to enter into a restructuring support agreement with the Ad Hoc Noteholder Group, representing more than 50% of the holders of its convertible notes.