BlockFi Intends to Sell $4.7M in Mining Assets

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The Bankruptcy Court has approved the sale of $4.7 million worth of mining equipment and other physical assets by BlockFi, a crypto-lending platform.

The counterparty in the deal will be US Farms, who were selected after the company undergoing bankruptcy received five bids and seven expressions of interest from potential buyers.

BlockFi is one of the most active lenders secured by cryptocurrency mining equipment, alongside NYDIG, Celsius Network, Foundry Networks, and Babel Finance, with these loans estimated to total $4 billion in June.

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