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Bitcoin Miner Core Scientific Approved for $37.5 Mln Bankruptcy Loan

U.S. bitcoin miner Core Scientific received court approval on Thursday to fund its Chapter 11 case with a $37.5 million loan from a group of existing creditors.

U.S. Bankruptcy Judge David Jones approved Core Scientific's bankruptcy loan on an interim basis at a court hearing in Houston, Texas. The company will seek final approval of the loan and permission to borrow an additional $37.5 million in January, although the company's attorney said it is open to better financing offers from other lenders.

Bitcoin Miner Core Scientific
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