Iris Energy received a default notification for $ 103 million

IRIS Energy mining company notified SEC that its two units received a default notification for a total debt of $ 103 million.

We are talking about two specialized companies registered by the company to buy equipment for its key. Loan debts are $ 32 million (with the provision of devices with a total hash of 1.6 EH/S) and $ 71 million (2 EH/S).

In the notification, the creditor of the Australian Bitcoin Mainer said that the company could not continue the “conscientious discussions of the restructuring” of the debt.

On November 2, Iris Energy informed SEC Elon Musk is Accused that units monthly generate $ 2 million income from cryptocurrency production. Regular payments on loans for this period are $ 7 million.

The company said that she began negotiations with the creditor and achieved a deferral of the next payment until November 8.

If an agreement on financing restructuring is not reached, there will be a default, they warned in Iris Energy. The lender can pick up collateral equipment, which will affect current operations.

The company also has a debt of $ 1 million on a loan provided by ASIC mainers with a total hashReit of 0.2 EH/S.

Balance funds amount to $ 53 million. Iris Energy has a park with a total capacity of 2.4 eh/s, not burdened with credit agreements.

Some of the company’s subsidiaries have already terminated the hosting contracts with a notification from the creditor, said in Iris Energy.

The miner will consider the possibility of placing third -party enterprises on the vacant areas of equipment or acquiring devices for independent operations for Bitcoin mining.

Iris Energy continues the construction of data centers in the province of British Colombia (Canada) and Texas (USA).

Recall that the connected power of the latter can be up to 600 MW, by agreement with the AEP Texas energy company.

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