IREN to pay NYDIG $20 million to settle dispute arising from defaulted Bitcoin mining equipment loan

the Nasdaq-listed Bitcoin mining company IREN stated in its annual report that it will pay $20 million to NYDIG to settle a long-standing dispute over defaulting on loans for Bitcoin mining equipment. The settlement agreement was first reached in August, with IREN owing $107.8 million in debt by the end of 2022, including interest and late fees, arranged through NYDIG in 2021 to finance around 35,000 Antminer S19 mining machines. IREN stated that the settlement agreement has ended all related litigation and protects its subsidiaries, executives, and shareholders from further claims, awaiting court approval for formal closure.