Crypto Miner Greenidge Will Sell NYDIG Mining Devices to Pay Off Debt

Reading Time: < 1 minute

Mining firm Greenidge Generation has recently entered into an agreement with creditor NYDIG to sell most of its mining machines to pay off a $74 million debt.

According to the SEC website, as a result of the transaction, Greenidge will become a hoster for equipment owned by a third-party company with a total hashrate of 2.8 EH/s, as well as transfer other assets: mining infrastructure, capital of subsidiaries and other property.

The company’s CEO David Anderson has said:

“This will improve our future liquidity and will be a significant step towards improving the balance sheet.”

According to him, “thoughtful terms of the agreement” will allow the company to continue to participate in “unlocking the future potential of Bitcoin.”