Deel dit artikel
Bitcoin Miner Core Scientific to Borrow $70M From B. Riley
The firm said the loan will enable it to replace an existing facility and give it "up to 15 months runway and significant flexibility."
Door Jamie Crawley
Bitcoin miner Core Scientific (CORZ) agreed to borrow $70 million from investment bank B. Riley to replace an existing facility and keep the company running as it goes through the Chapter 11 bankruptcy process.
In a filing, Core Scientific said it is seeking approval from the Bankruptcy Court for the Southern District of Texas Houston Division for the loan to replace a financing plan set out in December. If approved, the loan will enable the company to pay off the existing debtor-in-possession (DIP) facility and give it "up to 15 months runway and significant flexibility," it said in the filing.
STORY CONTINUES BELOW
Mis geen enkel verhaal.Abonneer je vandaag nog op de Crypto Daybook Americas Nieuwsbrief. Bekijk Alle Nieuwsbrieven
Core Scientific's downfall followed a sorry 2022 for the bitcoin mining industry, in which firms were squeezed between falling crypto valuations and rising electricity costs. The bitcoin miner filed for bankruptcy protection in December with estimated liabilities of between $1 billion-$10 billion and between 1,000-5,000 creditors. At the time, Core Scientific accounted for around 10% of the computing power on the Bitcoin network.
Read more: Bitcoin Miner Core Scientific's Lender Wants to Give Miner $72M to Avoid Bankruptcy
The loan "contains economic terms that are reasonable and generally superior to those provided under the original DIP facility," and better than any alternative proposal, Core Scientific said.
"The Replacement DIP Facility lays the foundation on which the debtors will seek to negotiate a consensual Chapter 11 plan with all of their key constituents and maximize value for all stakeholders."
Core Scientific sought to schedule a hearing for the request for Feb. 1.
Read more: Bitcoin Miner Greenidge Generation Restructures Another $11M of Debt
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
French Banking Giant BPCE to Roll Out Crypto Trading for 2M Retail Clients
The service will allow customers to buy and sell BTC, ETH, SOL, and USDC through a separate digital asset account managed by Hexarq.
What to know:
- French banking group BPCE will start offering crypto trading services to 2 million retail customers through its Banque Populaire and Caisse d’Épargne apps, with plans to expand to 12 million customers by 2026.
- The service will allow customers to buy and sell BTC, ETH, SOL, and USDC through a separate digital asset account managed by Hexarq, with a €2.99 monthly fee and 1.5% transaction commission.
- The move follows similar initiatives by other European banks, such as BBVA, Santander, and Raiffeisen Bank, which have already started offering crypto trading services to their customers.
Top Stories
