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.
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