Court Approves BTC Loan for Bankrupt Bitcoin Mining Firm
Submitted by Anonymous (not verified) on Mon, 09/02/2024 - 03:00
Rhodium Encore LLC, a bankrupt bitcoin mining company, has received court approval for a unique debtor-in-possession financing plan that allows borrowing in either U.S. dollars or bitcoin. Galaxy Digital Holdings Ltd., a blockchain firm led by Mike Novogratz, has offered to provide Rhodium with a loan of either $30 million in dollars or 500 bitcoin. […]