Core Scientific, one of the world’s largest bitcoin mining companies, feared that it could go bankrupt if it failed to improve its financial status. Shares of Core Scientific plunged 77 percent to 22 cents due to such concerns.

Core Scientific “could go bankrupt”

According to CoinDesk on the 27th, Austin, Texas-based Core Scientific is set to repay its debts at the end of this month and early next month, and urged cash support, saying that assets will run out by the end of the year sooner than expected.

Coin Scientific explained that there are considerable doubts about its ability to continue as a continuous company for a reasonable period of time.

Coin Scientific is looking for several strategic alternatives to raise capital. A case in point is the appointment of Welsh Gottschel & Maine LLP as a legal advisor and PJT partner LP as a financial advisor.

Nevertheless, if capital cannot be raised, Core Scientific also leaves open the possibility that the company will have to file for bankruptcy protection. This is because creditors may file an insolvency lawsuit against them or take action against collateral.

Google launches ‘blockchain node engine’ for Ethereum project


Google is launching a cloud-based “blockchain node engine” for Ethereum developers and projects. Node refers to a kind of server with information that checks whether virtual asset transactions are valid and prevents duplicate transactions. Google’s launch of Node Engine is attributed to the growing interest of big tech companies in blockchain, virtual assets, and Web3 projects.

Google announced the launch of the blockchain node engine on the 27th (local time), and announced that its Google Cloud Blockchain Node Engine will be a service that can minimize the need for users to manage and maintain nodes.

Google plans to support node engines first only for Ethereum. Google explained the background of the release of the blockchain node engine, saying, “Blockchain is changing the way the world stores and moves information.”

Google’s response to blockchain and virtual assets is accelerating.

Google partnered with Coinbase, a virtual asset exchange, earlier this month to allow virtual asset payments for its cloud services. In September, Google Cloud and BNB Chain announced a partnership to support the growth of early-stage Web3 startups.

In addition, Google expressed its willingness to build a Web3 project, saying it is building a digital asset team for Google Cloud earlier this year.

Web3 refers to a decentralized next-generation Internet technology that includes blockchain-based distributed platforms, irreplaceable tokens (NFT), and metaverse