Category: Provident Bancorp

Buy, Sell, Trade Bitcoin with Credit Card & 100+ Cryptocurrencies @ BEST rates from multiple sources, Wallet-to-Wallet, Non-Custodial!

Crypto-friendly bank ends loans backed by crypto mining rigs

February 1, 2023

After a bullish 2021, crypto miners sought loans to expand, which backfired following difficult market conditions in 2022. The holding company for the crypto-friendly bank, BankProv, has revealed it is no longer providing loans secured by cryptocurrency mining rigs after writing off $47.9 million in loans primarily secured by them throughout 2022. According to a…
Read more

Massachusetts-Based Bankprov to End Loan Offerings Secured by Cryptocurrency Mining Rigs

February 1, 2023

The Amesbury, Massachusetts-based Bankprov, a subsidiary of Provident Bancorp, has announced that it will no longer provide loans secured by cryptocurrency mining rigs. In a filing with the U.S. Securities and Exchange Commission (EX-99.1), Bankprov stated that revenue from its digital asset loan portfolio will continue to decrease as the company has discontinued new loan…
Read more

Subscribe to Ƀitsell X

©  2026 Ƀitsell X. Built using WordPress and the Mesmerize Theme