IREN and NYDIG reach a $20 million settlement to end the Bitcoin Mining Rig loan dispute.

robot
Abstract generation in progress

[Chain News] On August 30, it was reported that Nasdaq-listed Bitcoin mining company IREN stated in its annual report that it would pay $20 million to NYDIG to resolve disputes arising from defaults on Bitcoin mining equipment loans over the years. The settlement agreement was reached in August, and IREN is involved in a debt of $107.8 million that was owed at the end of 2022, which includes interest and late fees. These loans were arranged through NYDIG in 2021 to finance approximately 35,000 Antminer S19 Mining Rigs. IREN stated that the settlement agreement ends all related litigation and protects its subsidiaries, executives, and shareholders from further claims, and is currently awaiting court approval for formal closure.

BTC0.91%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 4
  • Repost
  • Share
Comment
0/400
WhaleStalkervip
· 15h ago
20 million and over 100 million in debt, you really have it.
View OriginalReply0
NestedFoxvip
· 15h ago
You should pay back the money.
View OriginalReply0
CryptoHistoryClassvip
· 15h ago
*checks charts* typical bull market overleverage capitulation... just like genesis in '22
Reply0
NftDeepBreathervip
· 15h ago
The money still needs to be paid back, and everything has been discounted.
View OriginalReply0
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)