Iris Energy (IREN), a bitcoin mining firm, is facing claims from its lender that it has defaulted on $103 million in equipment loans held by two special-purpose vehicles (SPV), the company announced on Monday. According to a Monday filing with the U.S. Securities and Exchange Commission, the reason for the notice of default, which the lender sent to the miner on Nov. 4, is that the company failed to engage in “good faith restructuring discussions” for the debt in question. Because Iris did not participate in such discussions, the lender claims it is in default on payments originally scheduled for Oct. 25, according to the filing.
