Bankrupt Crypto Lender BlockFi Given Go-Ahead for Sale of $4.7M of Mining Rigs
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Eliza Gkritsi is CoinDesk’s crypto mining reporter based in Asia.
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The federal bankruptcy court administering the case of BlockFi has green-lit the sale of nearly 6,400 mining rigs for $4.7 million to U.S. Farms & Mining Opportunity Fund, according to court documents filed on Friday.
BlockFi filed for bankrupty in late November 2022, in part due to ripple effects from the collapse of crypto exchange FTX. In addition to financing bitcoin miners, BlockFi also had some self-mining operations.
The majority of the 6,376 mining rigs BlockFi sold to U.S. Farms & Mining are Bitmain Antminers, according to a previous filing. They are spread across the U.S. – Texas, Georgia, Kentucky and North Dakota – as well as Norway. About 400 of the machines had come into BlockFi’s possession trough foreclosure.
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Eliza Gkritsi is CoinDesk’s crypto mining reporter based in Asia.
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Eliza Gkritsi is CoinDesk’s crypto mining reporter based in Asia.
