Greenidge Generation Holdings Inc., once one of the largest public Bitcoin miners in the US, has reached agreements with its lenders to reduce debt as it seeks to avoid bankruptcy.
The firm has reduced its $76 million of secured debt with New York Digital Investment Group to about $17 million, with the potential to eliminate another $10 million with the lender, according to a statement. As part of the restructuring, Greenidge has transferred the majority of its Bitcoin mining machines and mining capacity to NYDIG, effectively changing itself from a miner to a hosting company that runs the rigs ...
