"Bitcoin miner Core Scientific announced the forced exchange of its secured convertible notes, which expire in 2029. This will result in the exchange of approximately 45 million shares of Core common stock for $260 million of convertible debt. 📉 The forced conversion was initiated on July 5 when the trading price of Core shares exceeded $2.1 billion within 20 trading days. The bonds will be converted into common stock on July 10. Core shares are currently trading at $10.14 on the Nasdaq, down 1.5%.