Bitfarms seeks to change mortgage facility with BlockFi as like market drags on

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Bitcoin (BTC) mining firm Bitfarms has unveiled plans to change an existing mortgage settlement with BlockFi — a hunch the firm mentioned would within the reduction of abet its indebtedness amid the like market.

On Jan. 13, Bitfarms disclosed that it is a ways working with collectors to change a mortgage settlement for Backbone Mining Alternate suggestions, or BMS, which owns and operates Bitfarms’ 20-megawatt mining facility in Washington narrate. BMS got a $32 million instruments financing mortgage from Bitcoin lender BlockFi in February 2022. The mortgage used to be secured towards existing BMS belongings, along side its miners and a definite share of BTC produced by its mining rigs.

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