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

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

NYDIG ABL LLC and MoonTradex 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 MoonTradex .

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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Adam Smith

Adam Mary is a crypto enthusiast and a graduate of The University of Nairobi in economics. Adam’s passion brings her back to her elementary school years as a poet. She enjoys discussing blockchain technology and is committed to producing original content. Adam also covers other rapidly developing markets and economic and cryptocurrency studies.