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Bitfarms Pays Down $21 Million BlockFi Loan With $7.75 Million in Cash

Bitcoin miner Birfarms settled $21 million in debt from BlockFi with a single payment of $7.75 million in cash.

The value of mining machines that collateralize those loans has dropped significantly and the bankrupt crypto lender has reportedly been looking to sell around $160 million in debt.

Like many miners, Bitfarms has been making efforts to deleverage itself for the past few months, bringing down its debt from a high of $165 million in June to $25 million now.

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