Core Scientific, a provider of blockchain computing data centers and software solutions, reached an agreement in principle with all key stakeholders on the terms of a global settlement of its Chapter bankruptcy 11 cases.

The global settlement was reached with the company’s ad hoc noteholders group, unsecured creditors committee, equity committee and B. Riley — the company’s debtor-in-possession lender —and allows the company to move forward with a consensual plan of reorganization and to proceed toward confirmation and exit from Chapter 11.

“The global settlement removes key hurdles to our anticipated emergence from Chapter 11 in January,” Adam Sullivan, CEO of Core Scientific, said. “With our team highly focused on operational excellence, a post-emergence pathway to de-lever our balance sheet and a plan for continued growth in 2024 and beyond, we are excited to pursue the opportunities ahead of us in the new year.”