According to Foresight News, Bitcoin miner Core Scientific has announced a mandatory conversion of its unpaid secured convertible notes on July 10. Following the forced conversion, the company will issue approximately 45 million shares of common stock in exchange for $260 million of convertible debt. This move will eliminate $260 million of debt from the company's balance sheet. The conversion of the notes will help the company to improve its financial health by reducing its liabilities.
Bitcoin Miner Core Scientific To Convert Unpaid Secured Convertible Notes
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