Core Scientificโs 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 โon favorable terms,โ and aim to provide two years of runway before anticipating profitability from the company.
In the lenderโs released statement it described how, โWe 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.โ