Riley

B. Riley suggested the embattled miner’s issues were “self-imposed” and outlined a path for it to avoid bankruptcy. Financial services platform B. Riley has offered Bitcoin (BTC) miner Core Scientific $72 million in financing to avoid bankruptcy and preserve value for Core Scientific stakeholders. B. Riley, a top lender to Core Scientific with $42 million in loans currently outstanding, outlined the terms of the financing agreement in a Dec. 14 letter noting it’s prepared to fund the first $40 million “immediately, with zero contingencies.” The finance platform suggested the remaining $32 million would be conditional on the BTC miner suspending all payments to equipment lenders while Bitcoin prices are below $18,500. The last time the price of Bitcoin was above $18,500 was on Nov. 9,...