US Bitcoin Corp announces a deal with Celsius Network

2023-9-1 23:15

USBTC to host 8,500 miners belonging to Celsius at its Alpha Site. Hashrate of these machines is estimated to be 820 petahash (PH). Us Bitcoin Corp expects to be managing over 310,000 miners in total.

US Bitcoin Corp is in focus today after the mining company announced a deal with the bankrupt cryptocurrency platform Celsius Network.

USBTC is a part of Fahrenheit consortium

The data centre operator said in a press release this morning that it will host 8,500 miners belonging to the now defunct crypto lender at its Alpha Site.

Note that USBTC is a member of the Fahrenheit consortium that took over Celsius assets in May. According to Asher Genoot – the President of US Bitcoin Corp:

Opportunity to manage Celsius assets marked a defining milestone … We envision a future where Bitcoin mining is not just profitable but sustainable and industry advancing.

At the time, the said assets which included more than 120,000 miners were valued at about $2.0 billion (find out more).

USBTC to manage more than 310,000 miners

Hashrate of the machines that US Bitcoin Corp plans on hosting at its Alpha Site is estimated to be 820 petahash (PH). Genoot also said in the press release today:

We’re embarking on a new chapter. The synergy between USBTC, Celsius, and Fahrenheit represents our commitment to redefining the mining industry.

USBTC now expects to be managing over 310,000 miners in total including its own machines as well as those of clients like Marathon Digital, Sphere 3D, Teslawatt, Foundry USA, and Decimal Group.

The news arrives only days after Hut 8 Mining issued an update on its in-process merger with Hut 8 Mining.

The post US Bitcoin Corp announces a deal with Celsius Network appeared first on CoinJournal.

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