The company has three special-purpose vehicles specifically for financing the purchase of mining equipment. Together the three have $104 million of debt outstanding. That’s secured against 3.8 exahash per second (EH/s) of mining rigs. The special-purpose vehicles aren’t guaranteed by the parent company, and the lenders have no recourse to the company or any of its assets, Iris Energy said.
Source: https://www.coindesk.com/business/2022/11/02/bitcoin-miner-iris-energy-says-some-machines-arent-covering-financing-costs/?utm_medium=referral&utm_source=rss&utm_campaign=headlines