Bitcoin Miner Greenidge Enters Non-Binding Debt Restructuring Deal With NYDIG
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The bitcoin mining operation Greenidge Generation Holdings Inc. has executed a restructuring deal with NYDIG, according to an announcement published on Tuesday. According to the non-binding term sheet agreement, NYDIG will obtain 2.8 exahash per second (EH/s) of Greenidge’s mining capacity, and Greenidge further entered into a hosting deal with NYDIG for the same 2.8 EH/s. Greenidge Generation Enters Into a Deal With NYDIG, Board Is Actively Discussing the ‘Potential for, and Timing of, a Voluntary Bankruptcy Filing’ Bitcoin miners have been hammered by financial problems in 2022 as the price of bitcoin (BTC) has dropped below the cost of
The plan would see the sale of Genesis alongside other measures in a deal reached with DCG and Gemini Trust Co. Genesis, a subsidiary of Digital Currency Group, has reached a restructuring agreement with key creditors according to statements by Cleary Gottlieb attorney Sean O’Neal, representing Genesis. It would see…
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