Maple has announced that it has launched a $300 million loan fund for Bitcoin miners through Icebreaker Finance.
Maple started lending using its Icebreaker platform to fund Bitcoin miners. With this fund, loans will be given to Bitcoin mining companies at an interest rate of between 15% and 20%. Icebreaker Finance, a part of DeFi lender Maple, announced that the loan they will offer will be given in 12 to 18 month intervals.
Says Miners Are Growing Crypto Ecosystem
Maple CEO Sidney Powell argued that fluctuations in the markets make it difficult for miners to find credit. Stating that miners play an important role in the crypto ecosystem, Powell expressed his satisfaction that their capital will be used in the right place. With these funds, the company aims to solve factor problems such as hardware and power assets for miners.
After the recent declines, it has been seen that Bitcoin mining companies have entered into a debt burden. They had to sell a large amount of Bitcoin in order to make the due loan payments. Pointing to these events experienced in the past, Powell stated that the fluctuations in the market pulled the lenders back. Icebreaker Finance CEO Gyln Jones stated that various secure packages are needed and they will provide it.
Arguing that the recovery period for the crypto market is coming, Maple underlined that it will provide funds to companies with a strong economic structure.
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