Babel Finance is letting bitcoin mining firms put up their machines as loan collateral so the lender can offer them better terms.
The loan-to-value ratio (LTV) for these loans is 30%, in part because Babel keeps the freshly mined crypto until the borrower pays back the loan. The LTV is significantly cheaper than the 160% Babel normally charges, which means borrowers would need to put up $1.6 million worth of bitcoin in order to borrow $1 million in U.S. dollars.
In a bull market miners are…
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