10 Mining Companies to Be First Borrowers in Maple Finance's $300M Funding Pool

Sidney Powell, chief executive of Maple Finance, a lending protocol for institutions, told CoinDesk in an interview that since launching a $300 million mining financing pool with credit agency Icebreaker a month ago, about six to 10 mining companies have been poised to be the first. Borrowers, another 25 are on the waiting list, the interest rate will be around 18%-20%, the loan is provided on a "full recourse" basis, which will require all assets of the miner to provide security, including Mining equipment, property and power equipment. Maple has now received its first $10-$12 million investment commitments, and he expects to hit the $300 million cap by around the middle of next year. Foresight News previously reported that in September Icebreaker Finance launched a loan pool on Maple to provide secured debt financing for public and private blue-chip bitcoin mining and digital asset infrastructure companies in North America, Canada and Australia, with a scale of US$300 million, aiming to provide Accredited investors and capital allocators offer low-risk returns.