Cointime

  • BTC $16800.01 -0.05 %
  • ETH $1230.18 -0.03 %
  • BCH $109.10 0.00 %
  • SOL $13.64 -0.07 %
  • XRP $0.38 0.10 %
  • BNB $282.90 -0.04 %

Iris Energy to Cut Mining Hardware After Defaulting on $108M Loan

1 min read Original Link

Australian Bitcoin mining firm Iris Energy is the latest to suffer from the squeeze of the crypto bear market, losing a significant chunk of its mining power after defaulting on a loan. A filing by the firm to the U.S. Securities and Exchange Commission on Nov. 21 revealed that it has unplugged its hardware used as collateral in a $107.8 million loan as of Nov. 18. (Cointelegraph)

All Comments