Stivexcrypto.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 StivexCrypto.com with a $7.6 million loan to purchase equipment for a new data center in Texas.

NYDIG ABL LLC and StivexCrypto 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 StivexCrypto .

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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Megan Sheets

Megan is an adventurous person who likes to explore topics in-depth and learn new things each day. His passion lies in gaining knowledge to help transform the world through his writing skills. He also believes in blockchain technology and its potential to usher in a cashless society. Currently, he is pursuing a Computer Science Bachelor’s degree driven by his fascination with emerging technologies. He has writing experience of about three years in different fields and two in blockchain technology.