The federal judge overseeing bitcoin miner Core Scientific's (CORZ) Chapter 11 bankruptcy process indicated he will approve a $70 million loan from B. Riley Commercial Capital that will help the company get back on its feet.

Judge Marvin Isgur of the Southern District of Texas also said during a hearing Wednesday he would agree to a group of stockholders' request to form an official committee to represent their interests in the case, pending a budget for the committee.