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Crypto mining company Iris Energy has just shut down most of its devices after two of its divisions received a notice of default, according to the statement sent to the US Securities and Exchange Commission (SEC).
According to the documents, the total debt amounts to about $107.8 million (including accrued interest and late charges).
Iris Energy has reported the disconnected devices account for 3.6 EH/s, whereas the company's current hashrate amounts to 2.4 EH/s. This includes miners in operation (1.1 EH/s) and in the process of delivery and deployment (1.3 EH/s).
As of November 20, the solution has released around 90 MW.
According to the company:
"The Group is exploring opportunities to utilize data center capacity that may become available. The facilities were intentionally structured for prudent risk management to protect the underlying business and data center infrastructure the Group has built."
