TechFlow news — Bitcoin mining firm Core Scientific announced it will mandatorily convert its $260 million convertible notes due 2029 into approximately 45 million shares of common stock.
The conversion was triggered as the company's stock price remained above $21 for 20 consecutive days and will take effect on July 10. CEO Adam Sullivan stated that this move marks significant progress since the company's emergence from bankruptcy restructuring. The company has also canceled its contingent payment obligations to unsecured creditors.




