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Iren, the Nasdaq-listed bitcoin miner founded by two former Macquarie executives, has settled a long-running lawsuit, agreeing to pay $US20 million ($30.6 million) to a New York-based lender that had pursued it through Australian and Canadian courts over unpaid debts.
The Sydney-headquartered company once known as Iris Energy has grown to a $US5.3 billion market value as the bitcoin price surged to record highs. But it defaulted on a $US103 million loan from specialist infrastructure lender Nydig from 2022, when cryptocurrency prices plunged and its share price tanked.
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