Australian bitcoin miner Iris Energy has secured $71 million in equipment financing from institutional bitcoin broker NYDIG. By Aoyon_A
The miner said it still has about 10 EH/s of the company’s total stock of miners that remain unencumbered, which provides the company flexibility and option to secure additional non-dilutive funding.
“This is our third equipment financing facility together [with NYDIG] and we look forward to formalizing additional loan facilities as miners continue to be delivered and installed,” said Daniel Roberts, co-Founder and Co-CEO of Iris Energy. The financing comes as crypto miners are looking to get creative with their capital needs, including raising funds through bitcoin-backed loans and asset-backed loans that are tied to the companies’ mining rigs.
Iris Energy’s stock has fallen about 5.5% this year, while bitcoin has declined about 1.2%. The shares of the miner were up almost 3% during early trading on Monday.The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a
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