Core Scientific Gets Court OK to Borrow Additional $35 Million

US Bankruptcy Judge David R. Jones said he’d allow Bitcoin miner Core Scientific Inc. to borrow an additional $35 million to fund its operations during chapter 11 proceedings pending minor changes to the deal discussed in a hearing Wednesday.

• The approval will finalize a $70 million bankruptcy financing package from B. Riley Commercial Capital LLC that replaced an earlier loan from a noteholder group
  • Core previously won approval to draw an initial $35 million under the replacement credit facility
• During the hearing, Jones also agreed to delay a hearing over whether to appoint an official committee of stockholders to Friday ...