14:05 ET -- Core Scientific Inc. is one of the most talked about companies in the U.S. across all news items in the last 12 hours, according to Factiva data. The cryptocurrency miner filed for chapter 11 bankruptcy, with a proposed restructuring plan provided by a group of noteholders that would convert debt into 97% ownership of the company, subject to dilution. Current stockholders, often wiped out when companies go bankrupt, would receive some shares and warrants in the restructured business. Core was hurt by the decline of bitcoin values in the "crypto winter" and higher electricity costs. Shares fell 76% on Wednesday and were up 139% to 12 cents Thursday. Dow Jones & Co. owns Factiva. (josh.beckerman@wsj.com)

(END) Dow Jones Newswires

December 22, 2022 14:21 ET (19:21 GMT)

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