Tag: B. Riley

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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…
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B. Riley may purchase up to $100M stake in Bitcoin miner Iris Energy

September 24, 2022

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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