B. Riley offered $72 million in credit to Core Scientific in restructuring its debt.
The firm sees its offerings as part of its commitment to helping distressed assets.
This new $72 million loan brings the miner’s total debt to $114 million with B. Riley Financial.
Core Scientific is one of the firms impacted by the current bear market.
Amidst the prevailing bear market, B. Riley, a prominent financial services firm, has resolved to offer a credit facility of $72 million to Core Scientific, a leader in Bitcoin mining. According to a statement by B. Riley Financial, it makes the offer to enable the protocol to avert bankruptcy.
B. Riley is optimistic that the credit facility will help Core Scientific restructure its debt amidst prevailing poor market conditions. The financial services provider sees its offering to the protocol as part of its commitment to helping distressed assets through numerous workable solutions.
However, to achieve a productive resolution, B. Rile
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