Greenidge si assicura un accordo di ristrutturazione $74M con NYDIG

• Greenidge ha ottenuto un accordo con il creditore NYDIG in base al quale quest'ultimo ridurrà il debito da circa $57 milioni a $68 milioni.
• The Bitcoin miner “may transfer certain credits, coupons and additional assets to NYDIG, including mining infrastructure.”
• NYDIG acquisterà minatori con circa 2,8 EH/s di capacità mineraria e Greenidge stipulerà un accordo di hosting.
• Anche il consiglio di amministrazione della società di mining di criptovalute si è impegnato in conversazioni riguardanti una dichiarazione di fallimento.

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Più entità nello spazio crittografico sono crollate di recente e quelle esistenti sono impegnate a trovare modi per salvare le loro operazioni; alcuni hanno persino stretto accordi con i loro creditori. Uno di questi è popolare Bitcoin (BTC) società mineraria, Greenidge, che ha confermato di aver firmato un accordo di ristrutturazione con il New York Digital Investment Group, facendo affari come NYDIG. L'accordo vale un enorme $74 milioni e NYDIG è uno dei principali creditori del minatore.

Secondo a deposito 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 acquistare minatori 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.”

Aggiornamento sulla liquidità di 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.

Il minatore di Bitcoin ha confermato che il consiglio di amministrazione dell'azienda ha avviato conversazioni in merito a una dichiarazione di fallimento nei casi in cui: (1) le potenziali fonti di liquidità sono esaurite; (2) è inadempiente su uno qualsiasi dei suoi contratti materiali; e (3) il capitale disponibile non gli consente di adempiere alle proprie obbligazioni alla loro scadenza.

“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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