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Bitcoin miner, Iris Energy, announced plans to increase the company’s self-mining capacity, from 2 exahash per second (EH/s) to approximately 5.5 EH/s, after it receives 4.4 EH/s of new Antminer S19j Pro miners from Bitmain. Iris Energy Leverages $67 Million in Bitmain Prepayments for Latest Mining Expansion Bitcoin mining company, Iris Energy, announced plans […] … Read more
With the tough conditions that faced Bitcoin miners last year, Iris’ co-founder said the purchase was a “significant milestone” for the company. Go to Source Powered by WPeMatico
The bitcoin mining operation Greenidge Generation Holdings Inc. has executed a restructuring deal with NYDIG, according to an announcement published on Tuesday. According to the non-binding term sheet agreement, NYDIG will obtain 2.8 exahash per second (EH/s) of Greenidge’s mining capacity, and Greenidge further entered into a hosting deal with NYDIG for the same 2.8 … Read more
The Australian mining firm has had to unplug hardware that was producing “insufficient cash flow” to service its “debt financing obligations.” Go to Source Powered by WPeMatico
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 (SEC) 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 … Read more
The company is facing a cash flow crisis due to tough market conditions. Go to Source Powered by WPeMatico
Iris Energy’s filing suggested the company planned to use proceeds from the sale to fund growth initiatives including purchasing mining hardware and developing data centers. Go to Source Powered by WPeMatico
Daniel Roberts, Iris Energy co-founder, said the firm had energized the facility on time “despite the current market backdrop and ongoing international supply chain challenges.” Go to Source Powered by WPeMatico
Seven of Australia’s 87 richest entrepreneurs aged 40 and under are crypto founders, according to the Australian Financial Review. Go to Source Powered by WPeMatico
