Core Scientific – one of the world’s largest bitcoin miner, just filed for bankruptcy protection with debts of between $1 to $10 billion!
Major Bitcoin Miner Core Scientific Files For Bankruptcy!
One of the world’s largest bitcoin miner, Core Scientific (NASDAQ:CORZ), just became the first publicly-listed cryptocurrency mining company to file for bankruptcy protection.
On Wednesday, December 21, 2022, Core Scientific filed for Chapter 11 bankruptcy protection at the Southern District of Texas, with estimated liabilities of between $1 to $10 billion, to around 1,000 to 5,000 creditors.
Core Scientific appears to have reached an agreement with some of its creditors before filing for Chapter 11, in what appears to be a prepackaged bankruptcy. It expects some support from its convertible potholders in the form of two debtor-in-possession (DIP) facilities worth up to $75 million.
This is enough extra cash to get us through the Ch 11 process while we continue to operate as usual and when we come out of the Chapter 11 process, we will be fully solvent with no liquidity issues.
We’ll come out of Chapter 11 with a much, much smaller amount of debt on our company. So we should be close to debt free.
– Core Scientific Chief Mining Officer, Russell Cann
Core Scientific Plans To Sell Mining Facilities Under Development
Core Scientific operates around 243,000 mining rigs, which account for about 10% of computing power on the Bitcoin network.
143,000 of its own mining rigs, with 14.4 exahash per second (EH/s) capacity
100,000 of hosted mining rigs for other companies, with 10 EH/s capacity
Core Scientific will continue to mine Bitcoin during its bankruptcy process, but is exploring the sale of up to one gigawatt worth of mining facilities that are under development for launch in 2023.
The likelihood of us selling assets that we currently are operating at is close to zero. The likelihood of us selling assets that are under development where we have power capacity and land and substations is high.
– Core Scientific Chief Mining Officer, Russell Cann
Core Scientific currently operates mining facilities with 850 megawatts of computing capacity.
Please Support My Work!
Support my work through a bank transfer / PayPal / credit card!
Name : Adrian Wong Bank Transfer : CIMB 7064555917 (Swift Code : CIBBMYKL)
Credit Card / Paypal : https://paypal.me/techarp
Dr. Adrian Wong has been writing about tech and science since 1997, even publishing a book with Prentice Hall called Breaking Through The BIOS Barrier (ISBN 978-0131455368) while in medical school.
He continues to devote countless hours every day writing about tech, medicine and science, in his pursuit of facts in a post-truth world.
Both AMD and NVIDIA have just been banned from selling high-performance AI chips to both China and Russia!
Here is what you need to know…
AMD, NVIDIA Banned From Selling AI Chips To China + Russia!
On Friday, 26 August 2022, NVIDIA and AMD were both ordered by the US government to stop exporting high-performance AI chips to both China and Russia.
In its regulatory filing to the SEC, NVIDIA stated that the US government introduced this ban to prevent them from being used for military purposes, or by the Chinese or Russian military.
The ban uses the A100 Tensor Core GPU as the baseline for NVIDIA, and the 3rd Gen Instinct MI250 accelerator chip for AMD.
Effective immediately, anything equal to, or faster than, the NVIDIA A100 or the AMD Instinct MI250 can no longer be exported to either China or Russia. That includes the upcoming H100 chip.
On August 26, 2022, the U.S. government, or USG, informed NVIDIA Corporation, or the Company, that the USG has imposed a new license requirement, effective immediately, for any future export to China (including Hong Kong) and Russia of the Company’s A100 and forthcoming H100 integrated circuits.
DGX or any other systems which incorporate A100 or H100 integrated circuits and the A100X are also covered by the new license requirement.
The license requirement also includes any future NVIDIA integrated circuit achieving both peak performance and chip-to-chip I/O performance equal to or greater than thresholds that are roughly equivalent to the A100, as well as any system that includes those circuits. A license is required to export technology to support or develop covered products.
The USG indicated that the new license requirement will address the risk that the covered products may be used in, or diverted to, a ‘military end use’ or ‘military end user’ in China and Russia. The Company does not sell products to customers in Russia.
I should point out that the NVIDIA A100 was launched two years ago – on June 22, 2020, while the AMD Instinct MI250 was introduced on November 8, 2021.
So it appears that the US government wants to maintain at least a 1-year advantage in high-performance AI chips.
AMD, NVIDIA Set To Lose Billions From AI Chip Sales To China!
Both AMD and NVIDIA stopped selling chips to Russia, after the invasion of Ukraine, so there is no material loss from such a ban on sales to Russia.
However, they both stand to lose billions of dollars worth of sales to China. NVIDIA alone estimates that the ban will affect US$400 million of sales, just in the third fiscal quarter.
Even more worrying was the likelihood that this ban may delay the H100 chip’s launch, and force NVIDIA to move “certain operations” out of China.
The new license requirement may impact the Company’s ability to complete its development of H100 in a timely manner or support existing customers of A100 and may require the Company to transition certain operations out of China.
AMD however claims that the ban will not have a material impact on its business, because shipments of its less powerful MI100 chips are not affected.
At this time, we do not believe that shipments of MI100 integrated circuits are impacted by the new requirements.
We do not currently believe it is a material impact on our business.
Both AMD and NVIDIA will now have to discuss with their customers in China on using alternative (less powerful) chips, or obtaining special licenses from the US government.
Please Support My Work!
Support my work through a bank transfer / PayPal / credit card!
Name : Adrian Wong Bank Transfer : CIMB 7064555917 (Swift Code : CIBBMYKL)
Credit Card / Paypal : https://paypal.me/techarp
Dr. Adrian Wong has been writing about tech and science since 1997, even publishing a book with Prentice Hall called Breaking Through The BIOS Barrier (ISBN 978-0131455368) while in medical school.
He continues to devote countless hours every day writing about tech, medicine and science, in his pursuit of facts in a post-truth world.
Did New York police just arrest Starbucks CEO Howard Schultz for multiple counts of fraud?!
Take a look at the viral claim, and find out what the facts really are!
Claim : Starbucks CEO Howard Schultz Was Just Arrested!
Vancouver Times just posted an article, claiming that New York police just arrested Starbucks CEO Howard Schultz for multiple counts of fraud!
The CEO of Starbucks, Howard Schultz, has been arrested and charged with multiple counts of fraud. He was arrested at his home in New York and is in custody awaiting a bail hearing.
Schultz is an American businessman and author, currently sitting as the chief executive officer (CEO) of Starbucks. A spokesperson for the company said that Schultz plans on resigning through his lawyers as soon as possible.
Starbucks is currently in hot water for banning cash payments at its stores in the UK, with plans to ban cash internationally. As a result, the term ‘boycott Starbucks’ continues to trend on social media.
It is unclear what the charges relate to, but a source close to the CEO indicated it may be linked to allegations of Schultz stealing money from his employees.
The mainstream media and big tech want to hide the truth. Beat them at their own game by sharing this article!
Truth : Starbucks CEO Howard Schultz Was Not Arrested!
This is yet another example of FAKE NEWS created by Vancouver Times to generate page views and money from gullible people.
Fact #1 : Vancouver Times Is A Fake News Website
Vancouver Times is a “content aggregator” (copy and paste) website that is known for creating fake news to generate more page views and money.
To look legitimate, they copy and paste news from legitimate news organisations. To drive traffic, they create fake news, sometimes masked as “satire”.
To give themselves a veneer of deniability, they label themselves as a “satire website” in their About Us section.
Vancouver Times is the most trusted source for satire on the West Coast. We write satirical stories about issues that affect conservatives.
Here are some of their fake news that we debunked :
Starbucks CEO Howard Schultz was not arrested by the police for fraud. He remains a free man.
Not only was there no police report on his arrest, there was zero media coverage, which is impossible because his arrest would have been worldwide news.
Starbucks is also a public-listed company (SBUX) on the Nasdaq, which means it is legally required to announce the arrest of its CEO publicly and to investors. There was no such announcement.
Fact #3 : Howard Schultz Is A Billionaire
Howard Schultz is a billionaire with a net worth of some 4 billion US dollars. He earned almost a quarter of that – 940 million dollars – during the COVID-19 pandemic.
So Schultz certainly does not need to rob his employees. He’s earning about $640,000 every day – more than what most of his store employees will earn in a lifetime!
Even if you believe Jason Pires from Vancouver Times, how exactly do you think Schultz steals from his employees? By sneaking a few dollars from the till at every store?
Fact #4 : There Is No Such Thing As A Publication Ban
Vancouver Times likes to use the “media blackout” claim, to explain why you can’t find any reputable media outlet reporting on Howard Schultz’s arrest.
That’s utter and complete bullshit. No one – not a judge, not even the US government – can control the worldwide media, or prevent anyone from writing about such a momentous arrest.
You can also be sure that even if the mainstream media refused to run the story, it would have been reported by many other websites and bloggers.
Yet, not a single blogger or online website published this incredible story? That’s because IT NEVER HAPPENED…
Fact #5 : Mainstream Media + Big Tech Would Have Loved The Hype
Vancouver Times is gaslighting you about how mainstream media and Big Tech want to hide the “truth” about the arrest of Starbucks CEO Howard Schultz.
They would all loved such shocking news, because it would have driven tons of traffic and engagement to their websites / platforms.
In fact, that was precisely why Vancouver Times created the fake story – to drive traffic, for the ad money.
Everything that Vancouver Times publishes should be regarded as FAKE NEWS, until proven otherwise.
Please help us fight fake news websites like Vancouver Times – SHARE this fact check out, and SUPPORT our work!
Please Support My Work!
Support my work through a bank transfer / PayPal / credit card!
Name : Adrian Wong Bank Transfer : CIMB 7064555917 (Swift Code : CIBBMYKL)
Credit Card / Paypal : https://paypal.me/techarp
Dr. Adrian Wong has been writing about tech and science since 1997, even publishing a book with Prentice Hall called Breaking Through The BIOS Barrier (ISBN 978-0131455368) while in medical school.
He continues to devote countless hours every day writing about tech, medicine and science, in his pursuit of facts in a post-truth world.
Is Pfizer really delisting itself on the Nasdaq and NYSE?! Was it due to the recent release of their COVID-19 vaccine documents?!
Take a look at the viral claim, and find out what the facts really are!
Claim : Pfizer Is Delisting Itself On Nasdaq + NYSE!
People are excitedly sharing messages and articles claiming that Pfizer is delisting itself on both the Nasdaq and the New York Stock Exchange (NYSE)!
According to these messages and articles, Pfizer is delisting itself in both stock exchanges over the recent release of their COVID-19 vaccine documents with 9 pages that allegedly listed 1,291 side effects.
This example of what’s being shared is long, so feel free to skip to the next section for the facts!
Arena Pharma moved higher after Nasdaq announced a delisting notice for Pfizer Inc, U.S. investment research platform Seeking Alpha reported on March 8.
The Nasdaq delisting notice indicates that the company’s last trading day will be this Thursday, March 10, due to the completion of its sale to Pfizer, the report said.
According to the Nasdaq delisting notice, the merger is tentatively scheduled to be completed before the market opens on Friday. The stock will be halted in after-hours trading at 8 p.m. Thursday in anticipation of the merger.
Sources say Pfizer has just filed a Form 25 with the Securities and Exchange Commission (SEC), in which Form 25 says that they want to delist their securities from the exchange and they want to exit the public market. This means that Pfizer will no longer be a public company.
Mr. Guo Wengui said in his big broadcast on March 9 that Pfizer, Modena, Johnson & Johnson, and other big pharma companies that have launched toxic vaccines will face an avalanche of civil lawsuits in the future.
Truth : Pfizer Is NOT Delisting Itself On Nasdaq / NYSE!
This is yet another example of anti-Pfizer, anti-vaccine FAKE NEWS being created and propagated by anti-vaccination activists. Here are the reasons why…
Fact #1 : Pfizer Is Not Delisting Itself On Nasdaq / NYSE
I had already addressed this earlier, when they claimed that the NYSE delisted Pfizer.
Now they are claiming that Pfizer is delisting itself on Nasdaq or NYSE, but that is also complete nonsense.
Anyone who takes just 2 seconds to look at the NYSE or Nasdaq website, or even Google, would realise that Pfizer Inc. (PFE) is still listed on both stock exchanges.
Not only is Pfizer still on Nasdaq and NYSE, its stock price actually went up by 2.17% on 11 March 2022!
Fact #2 : Pfizer Delisted Its 0.250% Note From NYSE
This new fake news is based on two recent Pfizer announcements. The first is a Form 25 submission that Pfizer filed with the SEC (US Securities and Exchange Commission) on 7 March 2022.
Pfizer submitted that Form 25 to delist its euro-denominated 0.250% notes – basically debt with a payable interest of 0.25% that matured on 7 March 2022.
In short, Pfizer paid off that matured debt with interest, and consequently removed the notes from the NYSE. It’s even stated in the description of their 7 March 2022 SEC filing on the Pfizer website.
Notification filed by National Security Exchange to report the removal from listing and registration of matured, redeemed or retired securities Initial Filing Amendments
The Pfizer common stock (PFE) remains on the NYSE and Nasdaq, and is being actively traded as we speak.
Fact #3 : Companies Can’t Go Private By Simply Delisting
Public-listed companies can go private, but not by simply notifying the stock exchange.
They have to first purchase shares from a majority of the shareholders, before they can even think of going private.
Even if that happens, the process can take four to six months to complete. It doesn’t just happen over a few days, with a simple notification to the stock exchange.
Fact #4 : Pfizer Delisted Arena Pharmaceuticals
The second Pfizer news that this fake story is based on is their delisting of Arena Pharmaceuticals from the Nasdaq Global Select Market.
Pfizer announced that it completed its acquisition of Arena Pharmaceuticals on 11 March 2022, and so Arena’s shares of common stock were delisted that day.
Again, Pfizer was not delisting itself, it was delisting the common stock of its (now) wholly owned subsidiary, Arena Pharmaceuticals.
Fact #3 : G-Times News Is Infamous For Fake News
This fake story appears to be created by G-Times News, a website owned by Guo Media – a company associated with Guo Wengui (also known as Miles Guo) and Steve Bannon.
Guo is an exiled Chinese businessman, and both Guo and Bannon are infamous for creating and spreading misinformation.
Naturally, both Guo and Bannon are often featured in G-Times News coverage. It doesn’t make them prescient, just pretentious.
Please help us fight fake news, by sharing this fact check with your family and friends!
Please Support My Work!
Support my work through a bank transfer / PayPal / credit card!
Name : Adrian Wong Bank Transfer : CIMB 7064555917 (Swift Code : CIBBMYKL)
Credit Card / Paypal : https://paypal.me/techarp
Dr. Adrian Wong has been writing about tech and science since 1997, even publishing a book with Prentice Hall called Breaking Through The BIOS Barrier (ISBN 978-0131455368) while in medical school.
He continues to devote countless hours every day writing about tech, medicine and science, in his pursuit of facts in a post-truth world.
Was Moderna CEO Stéphane Bancel just arrested in Massachusetts, and charged with multiple counts of vaccine-related fraud?
Take a look at the viral claim, and find out what the FACTS really are!
Claim : Moderna CEO Stéphane Bancel Arrested For Vaccine Fraud!
The Conservative Beaver just posted yet another fake story!
On 20 November 2021, they wrote another “Beaver Exclusive” claiming that the CEO of Moderna, Stéphane Bancel, was just arrested and charged with multiple counts of fraud related to their COVID-19 vaccine.
Stéphane Bancel – the CEO of Moderna – has been arrested at his home in Cambridge, Massachusetts and charged with numerous counts of fraud in relation to the COVID vaccine.
The charges stem from Bancel lying to consumers about the effectiveness of the vaccine and misleading the public on the vaccine’s serious side effects.
The police are in the process of executing a search warrant on his many properties across the United States and Europe.
The police have ordered a media blackout, which was promptly approved by a judge.
Truth : Moderna CEO Stéphane Bancel Was NOT Arrested!
The truth is – this is just another FAKE STORY created by Conservative Beaver, just to generate page views and money.
Everything that Conservative Beaver posts must be regarded as FAKE NEWS, until proven otherwise.
Fact #1 : Conservative Beaver Is A Known Fake News Website
The Conservative Beaver is a “news aggregator” (copy and paste) website that is known for creating fake news to generate more page views and money.
17 November 2021 : They wrote a fake story about Bill Gates getting arrested for crimes against humanity… on the same day Bill Gates appeared LIVE from his house in Seattle…
12 November 2021 : They wrote a fake story about World Economic Forum founder – Klaus Schwab – getting arrested by Swiss police for fraud. That was another fake story.
4 November 2021 : They wrote a fake story about Virginia governor Terry McAuliffe being arrested and charged with possession of child porn and cocaine. This never happened.
1 November 2021 : They wrote a fake story about an American Airlines plane crashing into the Atlantic ocean after the pilot died from a heart attack, after taking his second dose of the COVID-19 vaccine. There was no such plane crash.
It may seem silly since Conservative Beaver’s slew of famous arrests have all turned out to be false, but we still have to point out (yet again) that this is FAKE NEWS.
There is ZERO EVIDENCE that Stéphane Bancel was arrested at his home in Cambridge, Massachusetts.
And we know this for sure because…
Fact #3 : Stéphane Bancel Lives In Boston, Not Cambridge
Conservative Beaver has always been lazy in writing their fake stories, and there is always an obvious flaw in their fake news.
This time, it’s their claim that Stéphane Bancel was arrested at his home in Cambridge, Massachusetts, which is not possible because he does NOT live there.
Stéphane Bancel resides in the Beacon Hill district of the city of Boston, Massachusetts. Cambridge is where the Moderna headquarters is located.
On 30 September 2021, a group of scientists, doctors and public health advocates actually protested in front of his home on Chestnut Street in Beacon Hill.
They brought a 12-foot-tall structure of artificial human bones, and called for Moderna to share its vaccine knowledge with the US government and other countries.
Fact #4 : Moderna COVID-19 Vaccine Efficacy Confirmed In Clinical Trial
The Moderna COVID-19 vaccine was confirmed to be safe and effective, after it successfully concluded its clinical trials with an efficacy of 94.5% against symptomatic COVID-19 infection, in a large study involving over 30,000 participants.
The VRBPAC committee vetted and discussed the study findings on 17 December 2020, and recommended that the Moderna COVID-19 vaccine receive its Emergency Use Authorisation, which the FDA granted on 18 December 2020.
Fact #5 : Moderna COVID-19 Vaccine Under FDA Regulatory Oversight
I should point out that like ALL other vaccines, the Moderna COVID-19 vaccine was under FDA regulatory oversight.
If Moderna lied about their results, the FDA would not have continued to re-issue or amend its EUA time and time again.
Fact #6 : FDA Just Reissued EUA For Moderna Vaccine!
On 19 November 2021 – just one day before Conservative Beaver created their fake news – the FDA issued an updated letter of reauthorisation, expanding the booster dose to individuals 18 years and older.
This demolishes the Conservative Beaver’s claims that Moderna was found to have lied about the COVID-19 vaccine’s efficacy and side effects.
Fact #7 : Police Cannot Order Media Blackout
This stupid claim by Conservative Beaver is getting really tired. They always claim that you will never read about this, because the police or FBI ordered a media blackout and a judge approved it.
It’s just not possible to do that, which is why there is extensive coverage of arrests in the United States, especially of celebrities and important people.
Even if that is somehow possible – it’s not – the Massachusetts state police cannot prevent people from OTHER states, or even around the world, from covering the story!
You can be sure that even if the American press refused to run the story, it would have been gleefully published by the likes of RT, Al Jazeera, CGTN, Global Times, etc.
Yet, not a single press outlet published their account of this incredible arrest? That’s only because IT NEVER HAPPENED…
Fact #8 : Moderna Is A Public-Listed Company
Moderna is a public-listed company, and is traded on the Nasdaq as MRNA. Its shareholders would have to be informed if their company CEO was really arrested.
It is NOT POSSIBLE to keep quiet and pretend it didn’t happen. It’s not even legal to cover up such an event from the shareholders.
Ultimately, this is just another FAKE STORY by the Canadian fake news website – Conservative Beaver.
Please help us fight fake news! STOP SHARING anything posted by Conservative Beaver, and warn your family and friends!
Please Support My Work!
Support my work through a bank transfer / PayPal / credit card!
Name : Adrian Wong Bank Transfer : CIMB 7064555917 (Swift Code : CIBBMYKL)
Credit Card / Paypal : https://paypal.me/techarp
Dr. Adrian Wong has been writing about tech and science since 1997, even publishing a book with Prentice Hall called Breaking Through The BIOS Barrier (ISBN 978-0131455368) while in medical school.
He continues to devote countless hours every day writing about tech, medicine and science, in his pursuit of facts in a post-truth world.