Bitcoin Miner Core Scientific primio ponudu od 72 miliona dolara od kreditora da izbjegne bankrot

One of Core Scientific’s largest lenders – B Riley – has offered to loan out $72 million to the embattled Bitcoin miner in a bid to avoid a potentially unnecessary and value-destructive bankruptcy proceeding.

Prema puštenim izjava, B Riley plans on providing non-cash pay financing on favorable terms with more than two years of runway for the firm to achieve profitability. Core Scientific already has an existing loan with B Riley totaling $42 million.

Prijedlog

Sa najnovijim prijedlogom, B. Riley nema namjeru smanjiti iznose koji duguju zajmodavcima opreme kompanije Core Scientific. U stvari, investiciona banka je spremna da finansira prvih 40 miliona dolara finansiranja odmah, bez nepredviđenih obaveza. Sva plaćanja glavnice zajmodavcima opreme trebalo bi da budu obustavljena dok se cena bitkoina ne vrati na 18,500 dolara za ostatak predloženog finansiranja.

Following the price recovery, the proposal will provide free cash flow that will be distributed in cascading amounts to equipment lenders in the form of interest and partial principal payments until they are made whole.

“Bankruptcy is not the answer and would be a disservice to the Company’s investors. It will destroy value for the Company’s shareholders, reduce potential recoveries for the Company’s lenders, deplete its limited resources and create massive uncertainty for all its stakeholders.”

Problemi za Core Scientific

Core Scientific se suočava sa pritiskom tržišta bitkoina i viših troškova energije. Njegove finansijske nevolje odražavale su depresivno stanje rudarske industrije. Firma je suspendovala sve otplate glavnice i kamata ranije ove godine, pri čemu su njene obične dionice pale na 86% i trenutno trguju po cijeni od 0.15 dolara po dionici, što predstavlja tržišnu kapitalizaciju od približno 50 miliona dolara. Sa bankrotom na stolu, otkrio je istraživanje strateških alternativa u pogledu strukture kapitala i predložio sve opcije.

The public-traded Bitcoin mining company lost $435 million in Q3 and $862 million in Q2, bringing its net loss to a staggering $1.7 billion since the beginning of the year, as per the quarterly report podnesen with the United States Securities and Exchange Commission (SEC) on November 22nd.

Last month, another Bitcoin miner Argo Blockchain failed to raise $27 million from a strategic investor sending its shares tumbling. Several mining companies have been reeling amid the intense crypto winter.

Mining data center operator Compute North, filed for bankruptcy, owing around $500 million to at least 200 creditors. Another established player in the space, Marathon Digital, is reportedly considering to nabaviti kompanija.

Additionally, Canadian Bitcoin miner Bitfarms sold $62 million of its BTC to curtail its debts and maintain liquidity.