<p><span style="font-weight: 400;">The Australia-based bitcoin mining company Iris Energy has raised $71 million in debt issuance for new equipment.</span></p> <p><span style="font-weight: 400;">The company secured the deal with an NYDIG subsidiary, </span><a href="https://www.sec.gov/Archives/edgar/data/1878848/000114036122011289/brhc10035767_ex99-1.htm"><span style="font-weight: 400;">according to a statement</span></a><span style="font-weight: 400;"> released on Monday. </span><span style="font-weight: 400;">The company used 19,800 Bitmain S19j Pro miners to secure the loan, which has a 25-month term and an 11% interest rate.</span></p> <p><span style="font-weight: 400;">Iris Energy has previously raised over $500 million in funding, as per the statement. Last year, it got </span><a href="https://www.theblockcrypto.com/post/124577/bitcoin-mining-iris-energy-upsize-ipo"><span style="font-weight: 400;">$115 million in debt issuance</span></a><span style="font-weight: 400;">, before upsizing its initial public offering on Nasdaq to $231 million.</span></p> <p><span style="font-weight: 400;">According to the statement, the company is looking to “take advantage of a strong balance sheet” and seek more funding opportunities in the future.</span></p> <p><span style="font-weight: 400;">“We look forward to formalizing additional loan facilities as miners continue to be delivered and installed," Daniel Roberts, co-founder and co-CEO of Iris Energy, said in a statement. </span></p> <p><span style="font-weight: 400;">Last week, Greenidge announced a similarly structured <a href="https://www.theblockcrypto.com/linked/139363/greenidge-plans-to-triple-us-bitcoin-mining-capacity-after-securing-100-million-in-new-financing">$100 million financing round</a>.</span></p>