BlackRock Lends Money to Bankrupt Bitcoin Miner Core Scientific

Dec. 30, 2022, 6:25 PM

BlackRock Inc. is among a group of creditors that lent money to Bitcoin miner Core Scientific Inc. so it can continue to operate while it’s in bankruptcy, according to a filing from the asset manager.

BlackRock has committed $17 million of a debtor-in-possession loan through funds and accounts managed by its subsidiaries. The funds managed by the firm also held $37.9 million in secured convertible notes of Core Scientific as of Dec 28, according to the filing.

The Austin, Texas-based crypto-mining company filed for bankruptcy last week and got access to $37.5 million of fresh cash from a group of …