Iris Energy to cut mining hardware after defaulting on $108M loan
Australian Bitcoin mining firm Iris Energy is the latest to suffer from the squeeze of the crypto bear market, losing a significant chunk of its mining power after defaulting on a loan. A filing by the firm to the U.S. Securities and Exchange Commission on Nov. 21 revealed that it has unplugged its hardware used […]
Bitcoin miner Iris Energy faces $103M default claim from creditors
According to a new filing with the U.S. Securities and Exchange Commission on Monday, Bitcoin (BTC) miner Iris Energy says it has received a default notice from mining rig manufacturer Bitmain Technologies. The notice alleged that Iris Energy failed to “engage in good faith restructuring discussions” for certain principal payments due on Nov. 8. Additionally, […]
B. Riley may purchase up to $100M stake in Bitcoin miner Iris Energy
Australia-based crypto mining firm Iris Energy has signed a deal with B. Riley giving the capital market company the option to purchase up to 25 million of its shares. According to a Friday filing with the United States Securities and Exchange Commission, Iris Energy inked an agreement with B. Riley Principal Capital II related to […]
Australia-based crypto miner doubles hash rate after energizing Canadian rigs
Australian Bitcoin miner Iris Energy said it had increased its hash rate to more than 2.3 exahashes per second following the completion of phase two of its operations in Mackenzie, Canada. In a Monday announcement, Iris Energy said it had brought 41 megawatts of operating capacity in the British Columbia municipality online roughly two months […]
Crypto founders top young Australian rich list
The AFR’s list contains 87 of Australia’s richest entrepreneurs aged 40 and under, with each boasting a net worth greater than AUD 36 million ($26.9 million). The list is topped by Melanie Perkins and Cliff Obrecht, the co-founder and chief operating officer (COO) of popular graphic design software providers Canva. The married couple has an […]