Greenwich Generation Holdings Incorporated, a US-based Bitcoin mining firm, has reached a debt restructuring agreement with cryptocurrency service provider Nydig. Nydig will purchase Greenwich’s mining machines with 2.8 extra hashes per second of mining capacity, while Greenwich will retain ownership of rigs with 1.2 EH/s capacity. Nydig will reduce Greenwich’s debt to between $57-68 million. Without additional liquidity, Greenwich risks losing the ability to support its operations within two months and is considering voluntary bankruptcy. Even with the Nydig deal, Greenwich still needs at least $20 million in additional liquidity. Greenwich’s shares on the NASDAQ closed down 17.97% at $0.3012 on Tuesday. Other US-based mining firms, such as Core Scientific and Compute North, are also facing liquidity issues. Foundry Digital LLC recently announced plans to acquire two TurnKey mining facilities from Compute North.
