New Deal With NYDIG and B. Riley Cuts Bitcoin Miner Greenidge’s Debt by $61M
The $61 million deal significantly reduces the sizeable debt burden facing Greenidge, which was recently considering voluntary bankruptcy.
Read More...White House Calls on Congress to ‘Step up’ Regulation; Argo Blockchain Sued Over US Share Sale
Four senior U.S. officials in the White House published a statement on Friday urging Congress to “step up its efforts” with respect to regulating the cryptocurrency market. Plus, crypto miner Argo Blockchain facing a class-action lawsuit over alleged misleading statements made during the initial public offering (IPO) of its American depositary shares (ADS) in 2021.
Read More...Bitcoin Miner Greenidge Generation Restructures Another $11M of Debt
The deal with B. Riley will push off repayment dates and use Greenidge stock to pay off some of the funds.
Read More...Bitcoin miner Greenidge cuts NYDIG debt from $72M to $17M
Despite restructuring into a hosting firm for Bitcoin mining, Greenidge still owns about 10,000 miners, maintaining a capacity of 1.1 EH/s.
Read More...BankProv Stops Offering Loans Collateralized With Crypto Mining Machines
The crypto-friendly bank wrote off $47.9 million in loans, primarily mining rig-collateralized debt.
Read More...Bankruptcy court allows bids for BlockFi’s crypto mining equipment
The U.S. Bankruptcy Court for the District of New Jersey has given the green light to BlockFi to invite bids for its crypto mining business. The approval came a week after the bankrupt crypto lender revealed its plans to sell nearly $160 million of loans backed by more than 67,000 bitcoin mining machines.
Read More...BlockFi gets court nod to sell crypto mining assets
It is understood that BlockFi wants to get bids in quickly as possible to make the most of the current market conditions.
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