Greenidge asegura un acuerdo de reestructuración $74M con NYDIG

• Greenidge ha asegurado un acuerdo con el acreedor NYDIG en virtud del cual este último reducirá aproximadamente $57 millones a $68 millones de deuda.
• The Bitcoin miner “may transfer certain credits, coupons and additional assets to NYDIG, including mining infrastructure.”
• NYDIG comprará mineros con aproximadamente 2,8 EH/s de capacidad minera y Greenidge firmará un acuerdo de hospedaje.
• La junta directiva de la empresa de criptominería también ha entablado conversaciones sobre la declaración de quiebra.

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Múltiples entidades en el espacio criptográfico se han derrumbado recientemente, y las existentes están ocupadas buscando formas de salvar sus operaciones; algunos incluso han llegado a acuerdos con sus acreedores. uno de ellos es popular Bitcoin (BTC) empresa minera, Greenidge, que ha confirmado la firma de un acuerdo de reestructuración con New York Digital Investment Group, haciendo negocios como NYDIG. El acuerdo vale la friolera de $74 millones, y NYDIG es uno de los principales acreedores de la minera.

De acuerdo a un presentación with the United States Securities and Exchange Commission (SEC), Greenidge has reached an agreement with its creditor NYDIG, and if the deal has been approved, we might see the bitcoin miner restructured into a hosting firm for Bitcoin mining rigs so that it is able to continue its operations. This confirms that the crypto mining industry has also been severely affected by the collapse of the world’s largest crypto coin.

As per a press release, a “non-binding term sheet” worth $74 million in debt have been signed by Greenidge and NYDIG, which would allow the latter to comprar mineros with approximately 2.8 EH/s of mining capacity, and the miner “would enter into a hosting agreement with NYDIG for approximately 2.8 EH/s of mining capacity,” resulting in “a material change” to it’s current business strategy.

“Greenidge may transfer certain credits, coupons and additional assets to NYDIG, including mining infrastructure awaiting deployment at potential mining sites, contingent upon Greenidge facilitating for NYDIG rights to a mining site within three months following the completion of debt restructuring and hosting agreements,” stated the release.

It is crucial to note that in exchange for the purchased mining rigs and transfer of mining infrastructure and credits, NYDIG will reduce approximately $57 to $68 million of debt. Moreover, the fintech firm will “retain ownership of miners with a capacity of 1.2 EH/s” while the BTC miner will be “pledging substantially all of its unencumbered assets to NYDIG to secure the remaining balance of the loan.”

Actualización de liquidez de Greenidge

As per the release, the current situation of Greenidge’s financial condition is uncertain, and there is also “substantial doubt about its ability to continue.” The firm revealed that its cash burn rate was $8 million in the past two months of which $5.5 million went to its creditor, NYDIG. The firm expects a similar cash burn rate in the coming days of December as well.

El minero de Bitcoin confirmó que la junta directiva de la empresa ha entablado conversaciones sobre la declaración de quiebra en los casos en que: (1) se agotan las fuentes potenciales de liquidez; (2) incumple cualquiera de sus contratos materiales; y (3) el capital disponible no le permite cumplir con sus obligaciones a su vencimiento.

“The Company [Greenidge] continues to actively explore raising additional equity capital and to engage in discussions with its lenders. The Company is considering various alternatives in connection with its wholly owned subsidiary, Support.com, including the disposition of assets and other transactions,” stated the release.

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