A $300 million capacity pool has been formed by Maple Finance, a significant DeFi lender, for Bitcoin mining firms.
The development occurs despite the dramatic drop in the price of BTC and the decreased cash infusion into the mining industry.
According to an announcement on Tuesday (September 20, 2022), the new fund targets “public and private blue-chip bitcoin mining and digital asset infrastructure companies” based in North America and Australia.
The pool provides underlying loans with terms of 12 to 18 months and interest rates of 15 to 20%. Through Maple’s platform, Australian financial services company Icebreaker Finance will oversee and handle the loans. Borrowers will receive funding depending on their financial performance, operational effectiveness, and balance sheet soundness.
Additionally, loans will be backed by either digital assets or physical assets like power transformers and mining machines.
Glyn Jones, founder and CEO of Icebreaker Finance, commented on the most recent development.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
Annie
CoinCu News
a16z and Coinbase have pledged substantial funds to crypto PAC Fairshake, aiming to support crypto-friendly…
Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) dominate the crypto market, but experts warn that…
Discover the future as the Dogecoin price aims for a $0.7 comeback and discover why…
Willemstad, Curaçao, 4th November 2024, Chainwire
London, UK, 4th November 2024, Chainwire
November is the perfect time for BlockDAG's huge presale. Use BDAG100 to double your purchase.…
This website uses cookies.