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Iris Energy to cut mining hardware after defaulting on $108M loan

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cointelegraph.com

Australian Bitcoin mining firm Iris Energy is the latest to suffer from the squeeze of the crypto bear market, losing a significant chunk of its mining power after defaulting on a loan.A filing by the firm to the U.S.

Securities and Exchange Commission on Nov. 21 revealed that it has unplugged its hardware used as collateral in a $107.8 million loan as of Nov.

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