๐Core Scientific, a Bitcoin miner, is converting its outstanding secured convertible notes due in 2029 into common stock. This move will swap around 45 million shares for $260 million of convertible debt. The trigger? Core's stock price staying above $2.1 billion for 20 consecutive trading days.๐ฐ This conversion, due on July 10, is a significant milestone for Core, who emerged from bankruptcy earlier this year. And guess what? They've also extinguished a $3 million liability to unsecured creditors. ๐CORZ shares are currently $10.14, down 1.5%, but they've gained 194.2% in the past six months. Thoughts? ๐ญ #CryptoNews #CoreScientific