Australia's mining company Iris Energy has just raised $71 million in debt financing to purchase new cryptocurrency mining devices.
As reported by the company through a press release, the company has teamed up with NYDIG to use 19,800 Bitmain S19j Pro miners as collateral for a 25-month loan with an interest rate of 11%.
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According to information filed with the US Securities and Exchange Commission (SEC), Iris Energy has raised a total of $500 million.
It is worth noting the company, whose shares trade on the Nasdaq under the ticker IREN, focuses its activities on renewable energy sources.
Iris Energy signed an agreement with AEP Texas in January to connect a Bitcoin mining data center with a capacity of 600 MW to the Texas power grid.