Creditors Offer Miner Core Scientific $72M to Save Company
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B. Riley Financial, a financial platform, has offered Core Scientific $72 million in financing “on favorable terms” to help the crypto mining company avoid bankruptcy.
The company has said in an open letter to Core Scientific shareholders the funds would allow it to last more than two years.
The miner warned in October that it could run out of liquid reserves by the end of 2022 and has not ruled out the possibility of filing for bankruptcy.
Core Scientific owes $42 million to the firm.
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