Begin with the information request
The work focuses on the operating evidence and risk information your finance team can use during lender due diligence. It connects production, treasury, debt and collateral information in a consistent analytical framework.
We review the financing question and any existing lender checklist. This helps identify the figures, assumptions and supporting records that need to agree across the materials.
For a miner, the focus may include expected production, operating costs and cash available for debt service. For a company holding BTC, it may include collateral values, liquidity requirements and the effect of price changes on its obligations.
Establish a documented baseline
Depending on the engagement, inputs can include management accounts, cash-flow forecasts, production history, operating budgets, debt schedules and collateral records. Existing facility terms help establish which contractual measures should be reflected in the analysis.
We align reporting dates, record data sources and identify gaps requiring clarification. Historical figures and forward assumptions remain clearly distinguished throughout the work.
Examine cash flow and collateral together
We compare an agreed baseline with downside scenarios. Changes in Bitcoin price, production, costs or payment timing can affect the cash available to meet obligations. Where relevant, collateral stress tests show how price changes affect loan-to-value ratios.
For a mathematical illustration, a $1 million loan supported by 20 BTC has a loan-to-value ratio of approximately 66.7% when BTC is $75,000. At $50,000 per BTC, that ratio becomes 100%. Contractual thresholds, valuation methods and any additional collateral belong alongside this calculation. The figures are hypothetical and represent neither offered financing terms nor a borrowing recommendation.
The purpose is to make the assumptions and sensitivities visible before they become questions during diligence.
Prepare a usable risk package
Agreed deliverables can include a documented exposure summary, cash-flow stress tests, collateral sensitivities and a supporting risk memo. A source list and outstanding information schedule help your team trace the figures and complete its preparation.
The package can support internal review and discussions with your company’s professional advisers and prospective financing counterparties.
Questions about financing readiness
Can you work from a lender’s existing checklist?
Yes. An existing checklist gives the engagement a practical starting point. We map the requested analytical information to available records and identify additional inputs needed for the agreed modelling work.
Can you assess an existing borrowing arrangement?
Yes. Where the relevant terms and records are available, the analysis can examine debt-service requirements, collateral sensitivities and cash-flow scenarios. The reporting scope is agreed around the arrangement and the questions your team needs to address.