B Riley said it is prepared to fund the first $40 million of the new financing immediately, with “zero contingencies.” The remainder of the financing is contingent on all principal payments to equipment lenders being suspended at bitcoin prices of $18,500 and below. Above that threshold, however, free cash flow from operations will be distributed to equipment lenders.
Bitcoin Miner Core Scientific’s Lender Wants to Give Miner $72M to Avoid Bankruptcy
