Shares in Bitcoin miner Core Scientific have spiked 200% on the back of a proposed $72M financing long shot to stave off bankruptcy.
) miner Core Scientific’s stock has soared nearly 200% in the past four days, following the positive reception for a Dec. 14 financing proposal from a current creditor who is hoping the firm can avoid bankruptcy.
Shares for the embattled miner were sitting just over 13 cents on Dec. 12, before climbing to nearly 40 cents as the market closed on Dec. 15 — representing a gain of 198%.According to financial media firm Marketbeat, traders6,572 call options on Dec. 15, 136% more than the average volume of 2,780, which indicates that many are bullish on the stock and are betting that the price will continue rising.
Some members of the Bitcoin community were also acquiring shares, in the hope that scooping up shares at current prices could deliver a huge return if the financing plan goes through and the firm can survive through the bear market.
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