One of Core Scientific’s largest lenders – B Riley – has offered to loan out $72 million to the embattled Bitcoin miner in a bid to avoid a potentially unnecessary and value-destructive bankruptcy proceeding. According to the released statement, B Riley plans on providing non-cash pay financing on favourable terms with more than two years of runway for the firm to achieve profitability. Core Scientific already has an existing loan with B Riley totaling $42 million. (cryptopotato)
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Bitcoin Miner Core Scientific Receives $72M Offer From Creditor to Avoid Bankruptcy
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