Bitcoin Miner Greenidge Reaches Debt Restructuring Deal With NYDIG as Bankruptcy Looms

Bitcoin Miner Greenidge Reaches Debt Restructuring Deal With NYDIG as Bankruptcy Looms



Under the deal, which is currently in the form of a non-binding term sheet, NYDIG will purchase 2.8 exahash per second (EH/s) worth of Greenidge’s bitcoin mining machines, and extinguish $57 million-$68 million of the debt. That will leave Greenidge with 1.2 EH/s of machines, and the miner will also pledge the rest of its unencumbered assets to secure the rest of the loan, which will be somewhere between $6 million to $17 million.



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