“During 2022, Bitfarms began taking proactive actions to increase financial flexibility and to reduce indebtedness and capital expenditure obligations,” according to CFO Jeff Lucas.
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Category: Loans
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Gemini Co-Founder Accuses Digital Currency Group of Misrepresentation, Demands CEO Resignation
Gemini CEO Cameron Winklevoss has published another open letter on Twitter, addressed to the board members of Digital Currency Group (DCG). In the letter, Winklevoss accuses DCG and CEO Barry Silbert of making poor decisions with the now-defunct crypto hedge fund Three Arrows Capital (3AC), and claims that DCG orchestrated a “campaign of lies” in […]Powered by WPeMatico
Report Shows Financial Troubles Plagued Bankman-Fried’s Alameda Research as Early as 2018
Before FTX collapsed it was assumed that Alameda Research was one of the top quantitative trading firms and market makers within the industry. However, much of that perception may have been a facade as a recent report details that Alameda suffered from financial troubles as early as 2018. People familiar with the matter said Alameda […]Powered by WPeMatico
Bitcoin Miner Argo Blockchain Sells Helios Facility to Galaxy Digital for $65 Million, Galaxy to Host Argo’s ASIC Fleet in Texas
After the publicly-listed bitcoin mining firm Argo Blockchain suspended trading on Nasdaq and the London Stock Exchange, the company said it would follow up the next day with an announcement. The following day, on Dec. 28, 2022, Argo detailed it is selling its Helios facility to Galaxy Digital for $65 million, and the financially troubled […]Powered by WPeMatico
SBF borrowed $546M from Alameda to fund Robinhood share purchase
An affidavit by the FTX founder revealed Alameda funded the purchase of Robinhood shares which were later used as collateral for Alameda to secure a loan from BlockFi.
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Public Bitcoin mining companies plagued with $4B of collective debt
The Bitcoin mining community took up massive loans during the 2021 bull market, negatively impacting their bottom lines during a subsequent bear market.
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Bitcoin Miner Greenidge Enters Non-Binding Debt Restructuring Deal With NYDIG
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
Tether to reduce secured loans to zero in 2023 amid battle against FUD
The move comes in response to a wave of mainstream media attacks and FUD, primarily from the Wall Street Journal.
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Binance to Offer $500 Million Worth of Loans to Crypto Mining Industry
Cryptocurrency exchange Binance has set out to support crypto miners through a lending program established by its mining pool. Presenting the initiative this week, the coin trading platform also unveiled that Binance Pool intends to launch cloud mining products. Leading Exchange Binance Looking to Help Bitcoin Miners in Difficult Times for Crypto Business Binance, the […]Powered by WPeMatico
Wintermute repays $92M TrueFi loan on time despite suffering $160M hack
After repayment of TrueFi’s $92 million loan, Wintermute still owes $97.4 million to Maple Finance and Clearpool in loans.
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