The settlement, first struck in August and previously described only as confidential, resolves litigation in Canada and Australia tied to two non-recourse special purpose vehicles (SPVs) that defaulted in late 2022 on $107.8 million of debt, including interest and late fees. About $18.2 million of the $20 million payout exceeds amounts previously reserved, the company said.

The loans, arranged in 2021 through NYDIG, financed roughly 35,000 Antminer S19 miners. As previously reported, the settlement was reached just as PwC was about to examine IREN co-founders William and Daniel Roberts in Australia.