Rhodium Enterprises, a Bitcoin mining company that recently declared bankruptcy, has been granted court permission to loan either US dollars or Bitcoin.
According to sources, the company was offered a choice between receiving $30 million or 500 Bitcoin from Galaxy Digital, a blockchain firm helmed by Mike Novogratz.
However, the US dollar loan comes with an annual interest of 14.5%, whereas the Bitcoin loan has a lower interest rate of 9.5%, as reported by Bloomberg.
As per the agreement with the lender, Rhodium has the option to repay the Bitcoin loan in US dollars, based on the prevailing market spot prices at the time of repayment, prior to the due date.
