2 Lenders Claim Bitcoin Miner Iris Energy Defaulted on Equipment Loans Worth $103 Million
Another bitcoin mining company is dealing with financial issues as Iris Energy’s Form 6-K filing with the U.S. Securities and Exchange Commission shows the company could face default on two loans. Iris Energy’s Form 6-K filing explains to the SEC that the firm “received a notice from its lender alleging the occurrence of an event of default and acceleration under the respective limited recourse equipment financing facilities.”On Nov.
2.4 EH/s of miners and all of the group’s data center capacity and development pipeline are unaffected by the limited recourse equipment financing arrangements or purported acceleration notice. The bitcoin miner’s filing with the U.S. regulator follows other mining companies dealing with financial issues. For instance, at the end of September, Bitcoin.com News
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A myriad of bitcoin mining companies have seen shares slide 80% to 90% during the past 12 months and year-to-date, IREN is down 81.68% against the greenback.
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