Core Scientific has been approved to obtain a $37.5 million bankruptcy loan from existing creditors

ChainCatcher news, according to Reuters, U.S. Bitcoin mining company Core Scientific received court approval on Thursday to obtain a $37.5 million loan from a group of existing creditors to fund its Chapter 11 bankruptcy case.

Core Scientific's lawyers stated that they are willing to accept better financing proposals from other lenders. Kris Hansen, representing the creditors providing the new loan, stated in court that despite the challenges Core Scientific has recently faced and the continuous decline in Bitcoin prices, existing stakeholders remain confident in the company's long-term viability. (source link)