Another bitcoin mining company is dealing with financial issues as Iris Energy’s Form 6-K filing with the U.S. Securities and Exchange Commission (SEC) shows the company could face default on two loans. Iris Energy’s Form 6-K filing explains to the SEC that the firm “received a notice from its lender alleging the occurrence of an…
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The company is facing a cash flow crisis due to tough market conditions. 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…
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Publicly traded sustainable Bitcoin (BTC) mining firm Iris Energy has signed a deal with investment bank B. Riley Financial per which the latter can buy up to $100 million in equity over the next two years. According to the filing with the US Securities and Exchange Commission (SEC), B. Riley can buy up to 25…
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Iris Energy’s filing suggested the company planned to use proceeds from the sale to fund growth initiatives including purchasing mining hardware and developing data centers. 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…
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Daniel Roberts, Iris Energy co-founder, said the firm had energized the facility on time “despite the current market backdrop and ongoing international supply chain challenges.” 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,…
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Seven of Australia’s 87 richest entrepreneurs aged 40 and under are crypto founders, according to the Australian Financial Review. 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,…
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