Core Scientific Intends to Attract $100 Million in Equity

US-based blockchain hosting provider Core Scientific has just signed an agreement with B. Riley Principal Capital II to sell shares worth $100 million over two years.

According to the press release, Core Scientific has the right, but not the obligation, to issue these shares “subject to certain restrictions and conditions” and send B. Riley a notice of purchase.

Mike Levitt, CEO of Core Scientific, has commented:

“Getting access to additional capital in adverse market conditions enhances our liquidity and expands our strategic options. We continue to strengthen our balance sheet and streamline operations.”

As compensation for obligations under the agreement, the mining company has issued 573,381 ordinary shares to B. Riley.