🔴 Core Scientific, Inc. is trading 4% down today amid crypto weakness and a $15.2B bond hearing

Core Scientific, Inc. is trading 4% down at $27.77 amid a confluence of negative sector sentiment and a significant company-specific event.

• Bitcoin and Ethereum have declined as much as 4-7% over the last 24 hours, dragging down crypto-related equities including miners.
• A court hearing is scheduled today, June 4, to consider the validation of approximately $15.2 billion in bond financing for data center projects connected to Core Scientific and CoreWeave.
• Broader risk-off sentiment is impacting the tech sector after AI-related guidance from Broadcom on June 3 disappointed investors, despite strong results.