A class action lawsuit was filed against Signature Bank in February, alleging that the bank knew about – and facilitated – the “now infamous FTX fraud.” Specifically, the suit accuses Signature Bank of having knowledge of and permitting “the commingling of FTX customer funds within its proprietary, blockchain-based payments network, Signet.”

To power their mining operations, Bitcoin miners either purchase electricity from conventional and renewable energy sources or develop and run their own renewable energy facilities, turning them into energy consumers.

Miners typically purchase electricity from energy providers, such as utility companies or independent power producers, to mine BTC. They then use that electricity to power their mining equipment. This can include both traditional energy sources, such as coal or natural gas, as well as renewable energy sources, such as solar or wind energy.

Hydro-Quebec, a Canadian utility company that sells electricity to Bitcoin miners, is a real-world example of how Bitcoin miners act as energy buyers. In order to take advantage of the low electricity prices in the province, the firm has been actively courting Bitcoin miners to establish operations there and utilize excess hydroelectric power to mine BTC.

In some circumstances, miners might also sign long-term agreements with energy suppliers, which could provide them access to a more reliable and consistent source of electricity. Large-scale miners can benefit the most from this, as it enables them to plan and budget for their energy requirements in advance.

By establishing and running their own renewable energy facilities, such as solar or wind farms, Bitcoin miners can also take on the role of energy users and function as energy purchasers. By doing this, they support the switch to sustainable energy sources as well as securing energy for their mining activities.

For instance, a Bitcoin miner called Genesis Mining has established operations in Iceland and is running them using geothermal and hydroelectric energy. This allows the miner to benefit from Iceland’s plentiful renewable energy resources and lessen its environmental impact. Additionally, one of the largest Bitcoin mining facilities in the world, KnCMiner, is powered by a wind farm that the company developed on its own land in Sweden.

To make use of extra energy that would otherwise be wasted, miners may also choose to locate their mining operations next to existing renewable energy facilities, such as hydroelectric dams or geothermal plants. For instance, the Bitcoin miner Greenidge Generation in upstate New York, U.S. generates electricity for its mining operations using extra natural gas from a local power plant. The company also constructed a 7-megawatt solar farm to help meet its energy requirements.

Troubled cryptocurrency lending firm Hodlnaut is reportedly working with several potential investors to sell its business and other assets.

A number of potential buyers have inquired about purchasing Hodlnaut and its claims against the collapsed crypto exchange FTX, Bloomberg reported on Feb. 6.

Hodlnaut’s interim judicial managers have received multiple proposals to acquire its Singapore-based crypto business after the company sought protection from creditors. Citing an affidavit, the report notes that the judicial managers are now in the process of signing non-disclosure agreements with the potential investors.

The affidavit reportedly indicated that as of Dec. 9, Hodlnaut Group owed a total of $160.3 million — or 62% of outstanding debt — to companies and entities like Algorand Foundation, Samtrade Custodian, S.A.M. Fintech and Jean-Marc Tremeaux.

As previously reported, Hodlnaut’s FTX accounts held 514 Bitcoin (BTC), 1,395 Ether (ETH), 280,348 USD Coin (USDC) tokens and 1,001 FTX (FTT) tokens. The company reportedly had more than $18 million worth of digital assets on centralized exchanges like FTX, Deribit, Binance, OKX and Tokenize.

Once a major crypto lending platform, Hodlnaut was forced to halt operations due to lack of liquidity triggered by a massive bear market of 2022. After freezing withdrawals in August, Hodlnaut obtained creditor protection by Singapore Court, allowing the firm to restructure under court supervision. The court appointed Ee Meng Yen Angela and Aaron Loh Cheng Lee of EY Corporate Advisors as interim judicial managers.

Related: Celsius publishes list of users eligible to withdraw majority of assets

The news comes weeks after Hodlnaut’s creditors rejected the proposed restructuring plan and sought liquidation of the platform’s assets. Instead, the creditors reportedly called for immediate liquidation and distribution of remaining assets among creditors in order to maximize the remaining value.

Hodlnaut is one of many companies that specialize in crypto lending services, allowing users to deposit cryptocurrency that is lent out to borrowers in return for regular interest payments. The cryptocurrency winter of 2022 has disrupted the operations of crypto lenders, including Celsius Network, BlockFi, Genesis, Vauld and others. A number of industry executives believe that crypto lending can still survive the bear market, but some conditions still need to be met.