PANews reported on August 30th that Nasdaq-listed Bitcoin mining company IREN announced in its annual report that it would pay $20 million to NYDIG to resolve a multi-year dispute stemming from defaulted loans for Bitcoin mining equipment. The settlement, first reached in August, involved $107.8 million in debt owed by IREN at the end of 2022, including interest and late fees. These loans, arranged through NYDIG in 2021, financed approximately 35,000 Antminer S19 mining rigs. IREN stated that the settlement ends all related litigation and protects its affiliates, executives, and shareholders from further claims. The case is currently awaiting court approval.PANews reported on August 30th that Nasdaq-listed Bitcoin mining company IREN announced in its annual report that it would pay $20 million to NYDIG to resolve a multi-year dispute stemming from defaulted loans for Bitcoin mining equipment. The settlement, first reached in August, involved $107.8 million in debt owed by IREN at the end of 2022, including interest and late fees. These loans, arranged through NYDIG in 2021, financed approximately 35,000 Antminer S19 mining rigs. IREN stated that the settlement ends all related litigation and protects its affiliates, executives, and shareholders from further claims. The case is currently awaiting court approval.
IREN to pay NYDIG $20 million to settle dispute arising from defaulted Bitcoin mining equipment loan
PANews reported on August 30th that Nasdaq-listed Bitcoin mining company IREN announced in its annual report that it would pay $20 million to NYDIG to resolve a multi-year dispute stemming from defaulted loans for Bitcoin mining equipment. The settlement, first reached in August, involved $107.8 million in debt owed by IREN at the end of 2022, including interest and late fees. These loans, arranged through NYDIG in 2021, financed approximately 35,000 Antminer S19 mining rigs. IREN stated that the settlement ends all related litigation and protects its affiliates, executives, and shareholders from further claims. The case is currently awaiting court approval.
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