Core Scientific has fully repaid its debtor-in-possession financing, moving forward with plans to emerge from bankruptcy

Crypto miner Core Scientific has announced that it has prepaid the outstanding balance of a debtor-in-possession (DIP) financing package provided by B. Riley Financial. The company retains the right to access all $35 million in available funds under the DIP financing package and maintains sufficient liquidity to achieve its goal of emerging from bankruptcy in mid-to-late January 2024. (Business Wire) In December last year, Core Scientific said it expected to recover from bankruptcy in mid-to-late January. The company filed for bankruptcy protection last year amid plummeting Bitcoin prices, rising energy costs for Bitcoin mining and unpaid debts to U.S. cryptocurrency lender Celsius Network, one of its largest customers. Core Scientific said it has reached an agreement in principle with all key stakeholders on the terms of the global settlement.