Iris Energy secures $71 million in debt financing to buy new Bitcoin miners

Australian company Iris Energy has secured US$71 million of debt financing to purchase new mining equipment.

$IREN closes US$71m equipment financing with @NYDIG_BTC
— US$71m limited recourse facility
— 3rd facility with @NYDIG_BTC
— Secured by 19.8k @BITMAINtech S19j Pro (1.98 EH/s)
— ~10 EH/s of $IREN miners remain unencumbered
— Substantial flexibility for further non-dilutive funding

— Iris Energy (@irisenergyco) March 28, 2022

Signing a partnership with NYDIG’s unit, the company used 19,800 Bitmain S19j Pro miners as collateral for a 25-month loan at an 11% rate.

According to information filed with the SEC information, Iris Energy’s total financing raised amounted to $500 million.

The mining company oriented toward renewable energy. Iris Energy are traded on the Nasdaq stock market under the ticker IREN.

Earlier in January, Iris Energy заключила соглашение с AEP Texas to connect a 600 MW Bitcoin mining data center to the Texas grid.

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