Bitcoin (BTC) Miner Shut Down Machines After $108M Default

Bitcoin (BTC) miner Iris Energy has disabled its mortgaged rig following a recent notice of default.

Iris Energy 21 November on to the US Securities and Exchange Commission (SEC) In his statement, he used as collateral for his loan amounting to 108 million dollars as of 18 November. 3.6 EH/sec announced that it disabled the hardware. The company’s 2.4 EH/sec It was reported that the production power was not affected by this situation as stated before.

The company stated that its data center capacity and development pipeline has not been affected by the events and will continue to explore opportunities to use its capacity. Also additional for self-mining 7.5EH/s already done to Bitmain regarding the contract miner $75 million He also stated that they are evaluating the possibilities of using the prepayment.

Shares of Iris Energy (IREN) in a day 18% in the post-session market 1.55 traded in dollars. Company shares have been held since November 2021, when it went public. 94% of lost in value.

Founder and on-chain analyst of Capriole Fund Charles Edwards via social media account in his postsales of Bitcoin miners of the last 7 years It is almost at the most aggressive levels and if the Bitcoin price continues to stay at these levels, many mining companies in the near future. bankruptcy is inevitable suggested it would.

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