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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 […]Powered by WPeMatico
The Bitcoin miner warned its cash reserves may be depleted by the end of 2022 or sooner as it cuts back on spending, including not making loan repayments.
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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 […]Powered by WPeMatico
On Nov. 7, 2022, the bitcoin mining firm Core Scientific released the company’s October update after the company’s Form 8-K U.S. Securities and Exchange Commission (SEC) filing on Oct. 26, 2022. The filing noted that the company was in the process of exploring “restructuring its existing capital structure.” The update published on Monday indicates that […]Powered by WPeMatico
On Oct. 31, 2022, the publicly-listed bitcoin miner Argo Blockchain revealed the firm’s attempt to obtain $27 million in a scheduled financing deal fell through. According to the company’s October update, Argo said it did not believe the deal “will be consummated” and now two market analysts have downgraded the company’s shares. Argo Blockchain’s $27 […]Powered by WPeMatico
The mining firm has cited the low price of Bitcoin, electricity costs, an increase in the BTC hash rate, and litigation with Celsius playing a role in its financial difficulties.
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One of the largest publicly listed bitcoin miners, Core Scientific, has shaken investors with a recent filing with the U.S. Securities and Exchange Commission that raises the possibility the company may apply for bankruptcy protection. The filing notes that Core Scientific will be unable to pay down debt payments due for Oct. and early Nov. […]Powered by WPeMatico
The Trustee has objected to the retention bonus, citing a lack of sufficient information within the motion to warrant such a high payout and a lack of clarity around whether any recipients should be considered insiders.
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ERCOT reported that wind generation in Texas was “generating significantly less,” potentially leaving the state unable to meet energy demands during triple-digit temperatures.
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The sale left the firm with 1,959 BTC at the end of the second quarter, a more than 75% drop when compared with its reported 8,058 BTC holdings as of May 31.
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