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Bitfarms seeks to modify loan facility with BlockFi as bear market drags on

Bitcoin (BTC) mining company Bitfarms has unveiled plans to modify an existing loan agreement with BlockFi — a move the company said would reduce its indebtedness amid the...
Bitfarms seeks to modify loan facility with BlockFi as bear market drags on
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Bitcoin (BTC) mining company Bitfarms has unveiled plans to modify an existing loan agreement with BlockFi — a move the company said would reduce its indebtedness amid the bear market.

On Jan. 13, Bitfarm disclosed that it is working with creditors to modify a loan agreement for Backbone Mining Solutions, or BMS, which owns and operates Bitfarms’ 20-megawatt mining facility in Washington state. BMS received a $32 million equipment financing loan from Bitcoin lender BlockFi in February 2022. The loan was secured against existing BMS assets, including its miners and a certain percentage of BTC produced by its mining rigs.

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07-02-2023 07:47:39 (UTC+7)

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    EUR/USD 1.0733 ↑ Buy  
    GBP/USD 1.2032 Buy  
    USD/JPY 132.41 ↑ Sell  
    AUD/USD 0.6889 ↑ Sell  
    USD/CAD 1.3436 Buy  
    EUR/JPY 142.12 ↑ Sell  
    EUR/CHF 0.9955 ↑ Buy  
    Gold 1,883.20 ↑ Buy  
    Silver 22.308 ↑ Sell  
    Copper 4.0410 ↑ Sell  
    Crude Oil WTI 74.40 ↑ Sell  
    Brent Oil 81.40 ↑ Buy  
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    Euro Stoxx 50 4,205.45 Neutral  
    S&P 500 4,111.08 ↑ Buy  
    DAX 15,345.91 Neutral  
    FTSE 100 7,836.71 Neutral  
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    IBEX 35 9,159.20 ↑ Sell  
    BASF 52.950 ↑ Sell  
    Bayer 58.19 ↑ Sell  
    Allianz 219.30 Neutral  
    Adidas 155.36 ↑ Sell  
    Lufthansa 9.803 ↑ Buy  
    Siemens AG 142.96 Sell  
    Deutsche Bank AG 11.356 ↑ Buy  
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