Is Iris Energy facing default?

Information has surfaced that the SEC has received a report of default from Iris regarding its subsidiaries. The amount is $103 million.

It applies to the units that were registered for the purchase of mining equipment secured by the purchased capacity. The debts have reached $32 million and $71 million, with asic miners with a combined 3.6 EH/s hashrate as collateral. It came after the termination of the restructuring discussions.

The creditors’ actions led to the termination of hosting contracts with several firms. As a result, Miner stated that it would either host third-party companies on vacant space or operate independently. Also, the company did not refuse to launch facilities in Canada and the United States.