One of struggling bitcoin miner Core_Scientific’s top lenders wants to give the company $72 million in financing to avoid bankruptcy. By Aoyon_A
Investment bank B Riley, one of bitcoin miner Core Scientific's top lenders, has proposed a new $72 million financing"In our opinion, the vast majority of Core Scientific's issues are self-imposed and can be corrected in conjunction with an open, transparent discussion and ongoing participation with its creditors and equity holders,".
B Riley said it is prepared to fund the first $40 million of the new financing immediately, with"zero contingencies." The remainder of the financing is contingent on all principal payments to equipment lenders being suspended at bitcoin prices of $18,500 and below. Above that threshold, however, free cash flow from operations will be distributed to equipment lenders.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bitcoin Miner Terawulf Raises $10M in Fresh Capital to Pay Down Debt, Restructures Deal With Bitmain – Mining Bitcoin NewsDec. 12, 2022, the Maryland-based bitcoin mining company Terawulf announced that the firm has raised $10 million in capital to pay down debts.
Read more »
Crypto Miner Iris Energy Hit by Class Action SuitCrypto miner IRIS_Energy hit by class action lawsuit over underperforming bitcoin mining machines. By sheldonreback
Read more »
Crypto Miner Hut 8 Hires Former IBM Executive as CFOShenif Visram spent almost 12 years at IBM, including spells as CFO and COO of global business services for the computing giant's Canadian arm.
Read more »
Class-Action Suit Against Crypto Miner Iris Energy Quickly WithdrawnUPDATE: A class-action lawsuit claiming irisenergyco misled investors was withdrawn one day after it was filed. By egreechee.
Read more »
U.S. to reveal scientific milestone on fusion energy -sourcesThe U.S. Department of Energy on Tuesday will announce that scientists at a national lab have made a breakthrough on fusion, the process that powers the sun and stars that one day could provide a cheap source of electricity, three sources with knowledge of the matter said.
Read more »
The US Is Poised to Reveal a 'Major Scientific Breakthrough' on Nuclear FusionThe US Department of Energy said Sunday it would announce a 'major scientific breakthrough' this week after media reported a federal laboratory had recently achieved a major milestone in nuclear fusion research.
Read more »