Bitcoin Mining Firm IREN Settles $20 Million Dispute with NYDIG

According to PANews, Nasdaq-listed Bitcoin mining company IREN has announced in its annual report that it will pay $20 million to NYDIG to resolve a longstanding dispute over a loan default related to Bitcoin mining equipment. The settlement agreement, reached in August, addresses IREN's default on a debt of $107.8 million at the end of 2022, which included interest and late fees. These loans, arranged through NYDIG in 2021, financed approximately 35,000 Antminer S19 mining machines. IREN stated that the settlement concludes all related litigation and protects its subsidiaries, executives, and shareholders from further claims, pending court approval for formal closure.