Nov 2, 2022 disclosure: SPV 2 and SPV 3 miners cannot service debt
Company: IREN
The claim, verbatim
According to the complaint, on Nov 2, 2022 Iris disclosed that miners owned by Non-Recourse SPV 2 and SPV 3 produced insufficient cash flow to service their debt and had a market value well below the loan principal. Restructuring discussions with the lender were ongoing.
Source (primary)
MALOUF v. <mark>IRIS ENERGY LIMITED</mark> — Entry #1: COMPLAINT against MICHAEL ALFRED, DAVID BARTHOLOMEW, CHRISTOPHER GUZOWSKI, IRIS ENERGY LIMITED, BELINDA NUCIFORA, DANIEL ROBERTS, WILLIAM ROBERTS ( Filing and… (RECAP, court_filing)
View cached copy (2026-11-01)Live source ↗
Quote: “[c]ertain equipment (i.e., Bitcoin miners) owned by [Non- Recourse SPV 2 and Non-Recourse SPV 3] currently produce insufficient cash flow to service their respective debt financing obligations”
How we checked this
This claim has not yet been checked assertion-by-assertion against its source. It carries a cited source and quote, but the deeper check has not run. When it does, the result appears here whatever it says.
Additional evidence
confirms MALOUF v. <mark>IRIS ENERGY LIMITED</mark> — Entry #1: COMPLAINT against MICHAEL ALFRED, DAVID BARTHOLOMEW, CHRISTOPHER GUZOWSKI, IRIS ENERGY LIMITED, BELINDA NUCIFORA, DANIEL ROBERTS, WILLIAM ROBERTS ( Filing and…
Quote: “[c]ertain equipment (i.e., Bitcoin miners) owned by [Non- Recourse SPV 2 and Non-Recourse SPV 3] currently produce insufficient cash flow to service their respective debt financing obligations”