US Bitcoin Corp Partners with Celsius Network to Host Crypto Miners
US Bitcoin Corp has announced a deal with Celsius Network to host crypto miners at the USBTC Alpha Site. This partnership comes after the Fahrenheit LLC consortium won the bid to acquire assets of bankrupt Celsius Network, making it a significant development for both entities. Here are the key points:
- US Bitcoin Corp (USBTC) will run an initial 8,500 miners at the USBTC Alpha Site, with an estimated sticker hashrate of 820 petahash (PH).
- USBTC is part of the Fahrenheit LLC coalition that acquired the insolvent lender Celsius Network, along with Asher Genoot, Arrington Capital, Proof Group Capital Management, Steven Kokinos, and Ravi Kaza.
- USBTC expects to manage a fleet of over 310,000 Bitcoin miners, including those owned by Celsius, in partnership with other companies like Teslawatt, Marathon Digital, and Decimal Group.
- The company plans to merge with Hut 8 Mining Corp and establish a large-scale, publicly traded Bitcoin miner focused on economical mining and sustainable practices.
- Celsius Networks has obtained court permission to poll its account holders on a proposal to repay $2 billion in Bitcoin and Ether via a new user-owned company.
Hot Take: A Promising Partnership for Bitcoin Mining
The collaboration between US Bitcoin Corp and Celsius Network is a significant step forward for the crypto mining industry. By combining resources and expertise, both companies can thrive in the face of rising mining difficulty. This partnership also sets the stage for a more sustainable and industry-advancing future for Bitcoin mining. With the merger between US Bitcoin Corp and Hut 8 Mining Corp on the horizon, the future looks bright for large-scale, environmentally conscious Bitcoin mining operations.
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