Core Scientific Lender $72 Million Bailout – Bitcoin Magazine #crypto

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Core Scientific’s lender, B Riley, has stated its intentions of loaning out $72 million to the embattled publicly traded miner. Core Scientific currently has an existing loan with B Riley totaling $42 million. The new $72 million loan would be “on favorable terms,” and aim to provide two years of runway before anticipating profitability from the company.

In the lender’s released statement it described how, “We believe that there is a path forward and have been proactive in working through a solution, specifically by providing debt on a number of unencumbered assets.”

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