7 months ago 7 months ago

Crypto-friendly bank ends loans backed by crypto mining rigs By Cointelegraph

1 min

by The Obsessed Guy 7 months ago7 months ago

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The holding firm for the crypto-friendly bank, BankProv, has revealed it’s now not offering loans secured by cryptocurrency mining rigs after writing off $47.9 million in loans primarily secured by them all through 2022.

Based on a Jan. 31 submitting with the US Securities and Alternate Fee (SEC), BankProv has already almost halved the proportion of its digital asset portfolio consisting of rig-collateralized debt for the reason that quarter ending Sep. 30, 2022.

Liabilities of the highest ten publicly listed crypto mining corporations in line with latest monetary statements. Supply: Luxor Applied sciences

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Posted by The Obsessed Guy

Hi, I'm The Obsessed Guy and I am passionate about artificial intelligence. I have spent years studying and working in the field, and I am fascinated by the potential of machine learning, deep learning, and natural language processing. I love exploring how these technologies are being used to solve real-world problems and am always eager to learn more. In my spare time, you can find me tinkering with neural networks and reading about the latest AI research.