B. Riley offers $72 million to mining firm Core Scientific
B. Riley Financial, one of Core Scientific's largest creditors, argued that bankruptcy is not the the answer to Core Scientific's woes and is instead offering it a new financial lifeline. more than two years and help the firm stave off bankruptcy.
The creditor proposed offering “$72 million in new, non-cash pay financing on favorable terms, providing more than two years of runway for the company to achieve profitability,” according to a letter from B. Riley to Core Scientific's shareholders. “Bankruptcy is not necessary at all,” said B. Riley, adding that Core Scientific’s financial problems.
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