Core Scientific Appoints Jim Nygaard as CFO Post-Bankruptcy

Core Scientific, a leading Bitcoin mining company, has announced the appointment of Jim Nygaard as its new Chief Financial Officer following the company's emergence from Chapter 11 bankruptcy. Nygaard brings nearly 30 years of investment banking experience, with a focus on mergers and acquisitions, corporate finance, and capital raising, having served as a managing director at XMS Capital Partners since 2008 and previously at Morgan Stanley. Nygaard takes over from Denise Sterling, who guided the company through its bankruptcy proceedings and helped raise over $1 billion. Core Scientific faced financial difficulties leading to its bankruptcy filing in December 2022, exacerbated by the bankruptcy of its largest hosting customer, Celsius Mining. Throughout the restructuring, the company continued its Bitcoin mining operations and secured a $70 million debtor-in-possession loan from B. Riley, allowing it to exit bankruptcy successfully.