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
Proceed Studying on Coin Telegraph