Core Scientific Now Has The Largest Creditor MassMutual, BlockFi
According to The Block, BlockFi and MassMutual are among the debtors mentioned by Bitcoin miner Core Scientific.
The miner owes about $1 billion to a number of organizations, including crypto lender BlockFi, investment bank B. Riley, crypto financial services provider NYDIG, and Anchor Labs, the parent company of digital asset bank Anchorage Digital.
BlockFi Chief Risk Officer Yuri Mushkin told The Block that the company hasn’t underwritten a new mining loan since the spring of 2022 and that mining-backed loans are still a small part of the company’s overall lending portfolio. Mushkin stated:
“BlockFi holds risk capital reserves to protect against potential loan defaults, which includes mining-equipment finance business. Furthermore, our credit risk management team closely monitors the bitcoin mining sector and regularly speaks with the borrowers in the portfolio.”
As CoinCu reported, Core Scientific has acknowledged that its business is in significant financial problems.
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