Iris Energy: The mining equipment owned by its SPV cannot generate enough cash to meet its financing obligations

ChainCatcher news, Bitcoin mining company Iris Energy stated that the mining equipment owned by its special purpose vehicle (SPV) is unable to generate sufficient cash to meet its financing obligations, and the market value of this equipment is "far below the principal amount of the related loans." The company is negotiating with lenders, but the special purpose vehicle is not guaranteed by the parent company.

According to reports, in September, Iris Energy signed a $100 million equity transaction agreement with B. Riley. (source link)