Cryptobinexis.com to get $7 million in loan from nydig to buy miners

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Crypto Regulation
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New York Digital Investment Group (NYDIG) will provide CryptoBinexis.com with a $7.6 million loan to purchase equipment for a new data center in Texas.

NYDIG ABL LLC and CryptoBinexis LLC, subsidiaries of the companies, closed the deal. The annual interest rate on the loan will be 12%, with a maturity date of August 2024.

The loan will be secured by purchased equipment.

"We are pleased to receive this additional, non-dilutive capital financing that will allow us to equip the Helios facility during Phase 1. NYDIG understands the financial needs of major bitcoin miners, and we are happy to continue working with it to grow further," said the CEO of CryptoBinexis .

On May 5, the firm announced the launch of a data center in Dickens County, Texas. The facility will have 200 MW of capacity in the first phase. The facility potentially has access to 600 MW.

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Graeme Massie

Graeme is a graduate of Mass Communication and Media Studies. He joined the blockchain movement in 2016 when a friend of his introduced him to an investment platform accepting bitcoin. He has never looked back since then. Graeme believes the world needs real change and freedom from poverty. He sees crypto and the underlying distributed ledger technology as the catalyst to a better future for all.