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The majority of the 6,376 mining rigs BlockFi sold to U.S. Farms & Mining are Bitmain Antminers, according to a previous filing. They are spread across the U.S. in Texas, Georgia, Kentucky and North Dakota, although the company also has some in Norway. About 400 of the machines had come
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On Friday, debtors who control the official FTX Twitter account warned the community to “be on alert for scams from entities claiming to be affiliated with FTX.” They also noted that neither FTX debtors nor any entity related to the company has issued any IOU crypto assets or “debt tokens.”
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Defunct cryptocurrency lender Celsius aims to secure more than $14 million from credits and coupons backed by Bitmain, according to an interim CEO Christopher Ferraro in a bankruptcy court filing dated Feb. 9, 2023. Ferraro stated in the filing that the “coupons currently provide no utility to the debtors’ mining
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The company joins Core Scientific in trying to offload the assets before expiry, and will use the funds to repay creditors. Source
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“Lowering our debt nearly 85% from a high of $165 million in June 2022 to $25 million today has significantly decreased principal and interest obligations, which boosts our cash flow and positions us well for future growth," Bitfarms CEO Jeff Lucas said in the Thursday press release. Source
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The term sheet also involves refinancing the outstanding loans where DCG borrowed $500 million in cash and about $100 million worth of bitcoin (BTC) from Genesis, the person said. Included is “an equitization of the infamous 10-year promissory note that DCG gave Genesis in return for failed hedge fund 3AC
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The latest price moves in bitcoin (BTC) and crypto markets in context for Feb. 1, 2023. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets. Original Source
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Tether (USDT) — the world’s largest stablecoin by market capitalization — has never received any loan from the bankrupt cryptocurrency lender Celsius, according to the chief technology officer.Paolo Ardoino, CTO at Tether and Bitfinex crypto exchange, took to Twitter on Jan. 31 to announce that Tether has “never borrowed from
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Amongst the various arms Sam Bankman-Fried's fallen crypto empire, FTX.US has $260 million in cash. Bankman-Fried has repeatedly claimed that the U.S. wing is solvent. Last month he blogged that FTX US "had at least $111m, and likely around $400m, of excess cash on top of what was required to
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