Bitcoin miner Iris Energy secures $71M equipment financing with NYDIG

Sustainable cryptocurrency miner Iris Energy (NASDAQ:IREN) on Monday has gotten an additional $71M equipment financing facility from Bitcoin (BTC-USD) company NYDIG. The financing is backed by 19.8K Bitmain S19j Pro miners, that have a hashrate of ~1.98 exahash per second, along with a 25-month term at an 11% per annum interest rate, the company said. The company's balance sheet has flexibility to secure more funding thanks to ~10 EH/s of its total stock of contracted miners remaining unencumbered, the company said. "This transaction further demonstrates the capital structure benefits in having a strong balance sheet and owning and controlling our own infrastructure," said Iris Energy Co-Founder and Co-CEO, Daniel Roberts. Note that NYDIG’s mining services business specializes in providing bitcoin (BTC-USD) miners with solutions to their asset-backed financing, institutional quality infrastructure, and hedging solution needs. Previously, (Feb. 7) Iris Energy's Bitcoin production grew 1% in January.