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Bookmarking Crypto InsightsWed, 01 Feb 2023 01:45:03 +0000en-US
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3232Massachusetts-Based Bankprov to End Loan Offerings Secured by Cryptocurrency Mining Rigs
https://www.digit.info/massachusetts-based-bankprov-to-end-loan-offerings-secured-by-cryptocurrency-mining-rigs/
Wed, 01 Feb 2023 01:45:03 +0000https://www.digit.info/2023/02/01/massachusetts-based-bankprov-to-end-loan-offerings-secured-by-cryptocurrency-mining-rigs/Read more]]>The Amesbury, Massachusetts-based Bankprov, a subsidiary of Provident Bancorp, has announced that it will no longer provide loans secured by cryptocurrency mining rigs. In a filing with the U.S. Securities and Exchange Commission (EX-99.1), Bankprov stated that revenue from its digital asset loan portfolio will continue to decrease as the company has discontinued new loan […]
]]>Report: $4B in Bitcoin Mining Loans Are in Distress — JPMorgan Analyst Says Price Pressure Stems From Miner Sales
https://www.digit.info/report-4b-in-bitcoin-mining-loans-are-in-distress-jpmorgan-analyst-says-price-pressure-stems-from-miner-sales/
Mon, 27 Jun 2022 14:00:41 +0000https://www.digit.info/2022/06/27/report-4b-in-bitcoin-mining-loans-are-in-distress-jpmorgan-analyst-says-price-pressure-stems-from-miner-sales/Read more]]>Cryptocurrency-related lending has become a black smudge for the industry these days and according to a recent report, bitcoin’s low price has put billions in mining loans under stress. The report, which quotes the co-founder of mining company Luxor Technologies, Ethan Vera, says that roughly $4 billion in loans backed by crypto mining rigs are […]
The Amesbury, Massachusetts-based Bankprov, a subsidiary of Provident Bancorp, has announced that it will no longer provide loans secured by cryptocurrency mining rigs. In a filing with the U.S. Securities and Exchange Commission (EX-99.1), Bankprov stated that revenue from its digital asset loan portfolio will continue to decrease as the company has discontinued new loan […]
Cryptocurrency-related lending has become a black smudge for the industry these days and according to a recent report, bitcoin’s low price has put billions in mining loans under stress. The report, which quotes the co-founder of mining company Luxor Technologies, Ethan Vera, says that roughly $4 billion in loans backed by crypto mining rigs are […]