A post by @FirstSquawk on X.
BC IS SEEKING TO ACQUIRE A $50MN BANKRUPTCY LOAN FROM THE PIF - FT
@FirstSquawk on X
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Bitcoin miner BC is seeking to acquire a $50 million bankruptcy loan from the Public Investment Fund (PIF), according to a Financial Times report. The move would see the miner take on debt tied to a distressed borrower, with the sovereign wealth fund offloading part of its exposure. The deal matters as a sign of consolidation and balance-sheet maneuvering in the crypto mining sector, where firms have been navigating post-halving margin pressure. Terms, timing and final approval remain unconfirmed, and watchers will look for details on pricing and whether the loan is acquired at par or a discount.
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Named in this story
BC, PIF, FT