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Sources: bankrupt crypto lender BlockFi plans to sell $160M of loans backed by ~68K bitcoin mining rigs; some have already defaulted or seem undercollateralized

Bankrupt crypto lender BlockFi Inc. plans to sell about $160 million of loans backed by around 68,000 Bitcoin mining machines …

Bloomberg David Pan

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  • @0xalphainsights @0xalphainsights on x
    ⚡️New : @BlockFi plans to sell about $160 million of loans backed by around 68,000 Bitcoin mining machines. The deadline for bidders to submit offers is Jan 24. #BlockFi #AlphaInsights https://twitter.com/...
  • @smidnico Nico Smid on x
    $160 million in loans are backed by around 68,000 rigs equals an average of $2,353 per ASIC https://www.bloomberg.com/...