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         T R O U B L E D   C O M P A N Y   R E P O R T E R

              Saturday, February 25, 2023, Vol. 27, No. 55

                            Headlines

CORE SCIENTIFIC: Reports $91,773 Net Income in December

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CORE SCIENTIFIC: Reports $91,773 Net Income in December
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Core Scientific, Inc., filed with the U.S. Securities and Exchange
Commission its monthly operating report for December 2022.

The Debtor's statement of operations showed a net income of $91,773
for the current reporting period.

As of December 31, 2022, the Debtor listed $2,291,395,785 in total
assets, $694,016,000 in total liabilities, and $1,597,379,785 in
total shareholders' equity.

The Debtor started the month with $175,043 cash.  It listed total
cash receipts of $35,547,170 for the reporting period.  The Debtor
had $35,722,213 cash at month end.

A copy of the monthly operating report is available at the SEC at:

                    https://bit.ly/3EmxanC  

                    About Core Scientific

Core Scientific, Inc. (OTCMKTS: CORZQ) is the largest U.S.
publicly-traded Bitcoin mining company in computing power.  Core
Scientific, which was formed following a business combination in
July 2021 with blank check company XPDI, is a large-scale operator
of dedicated, purpose-built facilities for digital asset mining
colocation services and a provider of blockchain infrastructure,
software solutions and services.  Core mines Bitcoin, Ethereum and
other digital assets for third-party hosting customers and for its
own account at its six fully operational data centers in North
Carolina (2), Georgia (2), North Dakota (1) and Kentucky (1).  Core
was formed following a business combination in July 2021 with XPDI,
a blank check company.

In July 2022, one of the Company's largest customers, Celsius
Mining LLC, filed for Chapter 11 bankruptcy in New York.   

With low Bitcoin prices depressing mining revenue to a record low,
Core Scientific first warned in October 2022 that it may have to
file for bankruptcy if the company can't find more funding to repay
its debt that amounts to over $1 billion. Core Scientific did not
make payments that came due in late October and early November 2022
with respect to several of its equipment and other financings,
including its two bridge promissory notes.

Core Scientific Inc. and its affiliates filed petitions for relief
under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Tex. Lead Case
No. 22-90340) on Dec. 21, 2022. As of Sept. 30, 2022, Core
Scientific had total assets of US$1.4 billion and total liabilities
of US$1.3 billion.

Judge David R. Jones oversees the cases.

The Debtors hired Weil, Gotshal & Manges, LLP as legal counsel; PJT
Partners, LP as investment banker; and AlixPartners, LLP as
financial advisor.  Stretto is the claims agent.

A group of Core Scientific convertible bondholders is working with
restructuring lawyers at Paul Hastings.


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Troubled Company Reporter is a daily newsletter co-published
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