IREN to pay NYDIG $20 million to resolve disputes arising from default on Bitcoin mining equipment loans

Huobi HTX reported that Nasdaq-listed Bitcoin mining company IREN said in its annual report that it will pay $20 million to NYDIG to resolve disputes over years caused by default on Bitcoin mining equipment loans. The settlement was first reached in August, with IREN involved in debts of $107.8 million, including interest and late fees, which were financed by the end of 2022 through NYDIG arrangements in 2021 to finance approximately 35,000 Antminer S19 mining machines. IREN said the settlement ended all relevant litigation and protected its affiliates, executives and shareholders from further claims, and is currently awaiting court approval for formal closing.