Under the deal, which is currently in the form of a non-binding term sheet, NYDIG will purchase 2.8 exahash per second (EH/s) worth of Greenidge’s bitcoin mining machines, and extinguish $57 million-$68 million of the debt. That will leave Greenidge with 1.2 EH/s of machines, and the miner will also pledge the rest of its unencumbered assets to secure the rest of the loan, which will be somewhere between $6 million to $17 million.
Source: https://www.coindesk.com/business/2022/12/20/bitcoin-miner-greenidge-reaches-debt-restructuring-deal-with-nydig-as-bankruptcy-looms/?utm_medium=referral&utm_source=rss&utm_campaign=headlines