Just over a year after the crypto winter sent bitcoin miner Core Scientific spiraling into bankruptcy, the Texas-based company is back on the Nasdaq. Trading is scheduled to resume Wednesday morning.
Core, which has operations in five U.S. states — Texas, North Dakota, North Carolina Georgia, and Kentucky — mines for bitcoin and other cryptocurrencies by packing data centers full of specialized computers that crunch math equations to validate transactions and create new tokens. The process requires expensive equipment, technical expertise and a lot of electricity.
As recently as 2021, Core was one of the largest publicly traded crypto mining firms in the U.S., hitting the market in July of that year via a special purpose acquisition company in a deal that valued it at roughly $4.3 billion. However, bitcoin lost over 60% of its value in 2022, meaning all that digital currency Core was producing was suddenly worth a lot less while operating costs remained high.
Without sufficient cash on hand to repay the financing debt owed on equipment it was leasing, Core was forced to enter bankruptcy in December 2022. The stock had fallen more than 98%.
“When bitcoin prices declined and power prices increased, obviously that hurt our levered free cash flow position, as well as hurt our balance sheet, since we were carrying bitcoin on balance sheet,” Core CEO Adam Sullivan told CNBC in an interview.
Rather than liquidating, Core continued to operate and reached a deal with senior security noteholders who hold the bulk of the company’s debt.
The restructuring plan announced Tuesday has slashed $400 million in debt from Core’s balance sheet by “converting equipment lender and convertible note holder debt to equity,” the company said in a statement.
Core said the new credit facility along with projected operating cash flow will allow the company to “emerge and continue executing its multi-year growth plan.”
“We went through a very successful Chapter 11 bankruptcy process,” Sullivan said. “It accomplished exactly what we wanted to accomplish, which was reducing debt and giving us time to pay down any remaining debt on our balance sheet over the course of five years.”
Also helping Core as it reenters the public market is an expansive footprint of mines across the country, and investors’ renewed enthusiasm toward bitcoin, which jumped 150% in 2023.
Even in bankruptcy, Core invested in developing its infrastructure. In 2023, the company minted 13,762 bitcoin from its fleet of mines, or around $540 million at the token’s current price. That doesn’t include the profit Core generates from mining coins on behalf of other companies.
Core is in the process of deploying tens of thousands of more mining rigs with the goal of increasing its capacity by more than 50% over the next four years.
“Our focus is not going to be on the market leadership position, it’s going to be on being the most efficient bitcoin mining company and looking at all of our assets inside of our portfolio, so that we can ensure that we’re refining power into the highest value compute that we can,” he said.
The public markets have been going big in mining since bitcoin started rebounding. Marathon Digital soared more than 590% in 2023 while Riot Blockchain jumped more than 350% and CleanSpark gained over 400%.
Chardan Research said in a note on Jan. 8 that Marathon’s “acquisition of hosting facilities signals a shift in management’s strategy from asset-light to owner-operator,” a move that it called a “meaningful improvement.”
The halving, which happens roughly every four years, is written into bitcoin’s code and is designed to stave off inflation. Though it will immediately impact miner profits, it’s also historically proven to be a catalyst for a run-up in the price of bitcoin. During the crypto market’s previous bull market run, the world’s largest cryptocurrency rose more than 560%.
There are also new potential opportunities for miners to collect fees, as a startup ecosystem is built on top of bitcoin’s base chain, Bernstein said in a note on Jan. 17.
“It is not surprising that listed U.S miners are investing aggressively to ‘land grab’ a higher share” of the $900 billion bitcoin network, the analysts wrote. The firm added that bitcoin miners are “best positioned to benefit from growing institutionalization and financialization of bitcoin,” including the buildout of the bitcoin-based payment infrastructure called the Lightning Network, as well as the rising popularity of nonfungible tokens and ordinals minted on bitcoin.
“We expect 2024 to be a break-out inflection year for crypto,” Bernstein analysts wrote. “We recommend achieving Bitcoin exposure via Bitcoin miners.” The firm said Riot and CleanSpark are its preferred picks.
California-based B2U Storage Solutions is building a new battery energy storage facility east of San Antonio, Texas – and it’s going to be powered by used EV batteries.
The Bexar Corrilla project in Bexar County is B2U’s third grid storage site and its first in Texas. When complete later this year, it’ll have 24 megawatt-hours (MWh) of capacity and plug directly into San Antonio utility CPS Energy’s distribution system. B2U will repurpose around 500 end-of-life EV battery packs, housed in 21 modular cabinets, to store and dispatch power to the Texas grid.
The company has already deployed over 40 MWh of used EV batteries as battery storage in California. Its tech skips the expensive and energy-intensive remanufacturing process, thanks to a patented plug-and-play system that connects the batteries directly to the grid. The system’s certified to UL 9540 safety standards and uses AI to manage real-time power trading.
So why Texas? The state’s grid is notoriously volatile, and demand for backup is rising fast with more renewables and people plugging in. Batteries like these can help stabilize things when transmission can’t keep up.
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B2U’s CEO Freeman Hall says the Texas expansion “is a significant strategic milestone” and shows how repurposed EV packs are becoming a go-to solution for grid and industrial-scale energy storage.
Over the next year, the company plans to build three more projects in Texas, bringing its total footprint in the state to 100 MWh. Add in its California solar + storage sites, and B2U expects to hit 150 MWh of repurposed EV batteries on the grid by mid-2026.
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Honda’s luxury brand is teaming up with The Nature Conservancy (TNC) to electrify its fleet of vehicles. Acura donated 75 electric ZDX SUVs, its largest vehicle donation to date, to support the mission. The new EVs will be used to get to and from remote conservation sites.
Acura donated 75 ZDX EVs to The Nature Conservancy
Acura is donating 75 ZDX SUVs to The Nature Conservancy (TNC) this year through its dealership network across the US.
The fleet will be used to support the organization’s missions, including fieldwork, community engagement, and conservation efforts in rural and remote areas.
As part of their +30-year partnership, Honda is donating another $1 million to expand charging options and support TNC’s transition to EVs.
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Over 30 years ago, Honda and TNC collaborated for the first time to preserve the Big Darby Creek. Since then, the automaker has invested over $1 million to protect the aquatic system.
“The donation of these vehicles has significantly accelerated our efforts to electrify our fleet, reducing our carbon footprint and setting a powerful example of climate leadership,” Daniel Salzer, director of sustainability at The Nature Conservancy, said after receiving the donation.
Acura ZDX electric SUV for TNC (Source: Acura)
The ZDX is the luxury brand’s first all-electric vehicle, and it’s been a surprise hit so far in the US. It’s currently one of the best-selling premium EVs in the US.
Through the first half of 2025, Honda has sold 10,355 Acura ZDX models, surpassing the Cadillac Lyriq, which is also based on the same Ultium platform.
The company is selling even more than it expected. Mike Langel, Acura’s president of national sales, told Automotive News earlier this year that the luxury brand expected to sell around 1,000 ZDX models a month in 2025.
Acura donates 75 electric ZDX SUVs to The Nature Conservancy (Source: Acura)
Acura has offered some of the most generous discounts of any electric vehicle, reaching nearly $30,000 off in some states.
According to CarsDirect, the electric 2024 Acura ZDX A-Spec AWD is available to lease for as low as $299 per month.
The offer is for 24 months with $3,999 due at signing, but is limited to California, New York, Oregon, and other select states. The A-Spec AWD variant offers a range of 313 miles, while the RWD model has an EPA range rating of 304 miles. Honda’s electric SUV, the Prologue, is listed for lease starting at just $259 per month.
Looking to test one out for yourself? We can help you get started. You can use our links to find Acura ZDX and Honda Prologue models in your area.
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The new and improved IONIQ 6 is smarter, more stylish inside and out, and can drive even further. With nearly 350 miles of driving range, the new Hyundai IONIQ 6 now leads as Korea’s longest-range domestic EV.
Hyundai’s new IONIQ 6 leads Korea’s longest-range EV
Hyundai’s electrified streamliner is back and better than ever. The IONIQ 6 has received its first refresh since its launch three years ago in September 2022.
The new IONIQ 6 features Hyundai’s 4th-generation batteries, unlocking nearly 350 miles (562 km) driving range on a single charge. That’s the longest among domestic electric cars in Korea, beating the Kia EV4, which has a range of up to 341 miles (549 km).
Hyundai fine-tuned the exterior fastback design for maximum efficiency. With a drag coefficient of just 0.21, it’s the most aerodynamic of any Hyundai, Kia, or Genesis vehicle.
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Although still based on Hyundai’s “Mindful Cocoon” concept, the interior has been improved based on customer feedback. It now features a refined center console and incorporates “luxurious materials” into the three-spoke steering wheel and door trim.
2026 Hyundai IONIQ 6 refresh (Source: Hyundai)
Hyundai added new features, including a new Air Conditioning Occupancy Detection function. The system, a first for a Hyundai vehicle, can detect passengers and adjust the AC system.
Another new feature is Smooth Mode, designed to reduce motion sickness by providing less sensitive acceleration and deceleration.
The interior of the new Hyundai IONIQ 6 (Source: Hyundai)
The new IONIQ 6 is available with two battery options: 63 kWh and 84 kWh. With a range of up to 272 miles (437 km), the updated standard range model offers over 43 miles (70 km) more driving range. The extended-range battery is rated at 349 miles (562 km) range.
A Hyundai Motor Company official said, “The New Ioniq 6 is equipped with a 4th generation battery, securing the longest driving range among domestic electric vehicles.”
The new Hyundai IONIQ 6 N Line (Source: Hyundai)
Despite the larger battery, the IONIQ 6 can still recharge from 10% to 80% in just 18 minutes with a 350 kW fast charger.
Hyundai launched the updated EV in Korea on Monday, priced from 48.56 million won ($35,000). That’s for the base E-Value+ standard range model.
The long-range Exclusive trim starts at 55.15 million won ($40,000) while the flagship Prestige N Line variant will run you 61.32 million won (61.32 million won). With government and local subsidies, Hyundai said the actual purchase price will be lower.
The new Hyundai IONIQ 6 N Line interior (Source: Hyundai)
To celebrate the ultra-long-range capabilities of the new IONIQ 6, Hyundai is launching an ad campaign titled “the beginning of a new trend” in Korea.
For those in the US, Hyundai is expected to launch the new IONIQ 6 in early 2026. The current model is already rated with an EPA-estimated range of 342 miles.
With the updates, we could see it top 350 miles EPA-estimated range. Like the 2025 IONIQ 5, it’s also expected to arrive with a built-in NACS port to charge at Tesla Supercharger.
What are your thoughts on the updated model? Do you like the changes or does the IONIQ 6 still need some tweaking? Let us know in the comments.
Looking to test out Hyundai’s EV for yourself? With new models on the way, Hyundai is offering some sweet deals on its current lineup. The 2025 IONIQ 6 is available for lease starting at $169 per month. The 2025 IONIQ 5 may be an even better bet at just $179 per month. You can use our links below to find Hyundai’s electric vehicles near you.
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