BlackRock Gives Bankrupt Bitcoin Miner Core Scientific a New $17M Loan

BlackRock Gives Bankrupt Bitcoin Miner Core Scientific a New $17M Loan

BlackRock, which is Core Scientific’s largest shareholder according to FactSet data, already held $37.9 million in secured convertible notes as of Dec. 28. The latest $17 million is part of the new $75 million convertibles notes, which is part of its prearranged bankruptcy process, the filing says. In a prearranged bankruptcy, the debtor reaches some sort of agreement with its debtee before officially filling for bankruptcy.

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