US Bitcoin Corp has entered into an asset management deal with Celsius Network, a leading provider of cryptocurrency mining services. As per the agreement, US Bitcoin Corp will host 8,500 of Celsius’ state-of-the-art mining rigs. This collaboration will enable US Bitcoin Corp to enhance its mining capabilities and tap into Celsius’ expertise in the field. Additionally, the deal will contribute to the expansion of both companies’ presence in the crypto mining industry. Stay tuned for more updates on this exciting partnership!
Data center operator US Bitcoin Corp (USBTC) has secured a deal to host 8,500 Bitcoin (BTC) miners belonging to bankrupt crypto lender Celsius at its Alpha Site. This arrangement is part of a larger agreement that could see USBTC managing up to 310,000 Bitcoin miners from Celsius and other clients.
The partnership between USBTC and Celsius was solidified when USBTC, as a member of the Fahrenheit LLC consortium, won the auction to oversee Celsius assets. These assets include a lending portfolio and approximately 122,000 mining machines.
As part of its responsibilities, USBTC will manage Celsius’s mining division and establish and operate a 100-megawatt Bitcoin mining facility. However, these agreements are still subject to the approval of the bankruptcy court.
USBTC president Asher Genoot sees this deal as a significant milestone for the mining industry and commented, “The synergy between USBTC, Celsius, and Fahrenheit represents our commitment to redefining the mining industry.”
In addition to this partnership, USBTC has completed its merger with Bitcoin miner Hut 8 Mining Corp, resulting in the formation of a new entity named Hut 8 Corp.
This news has been published on CryptoSlate with the title “US Bitcoin Corp to host 8,500 of Celsius’ mining rigs as part of asset management deal.”
With this deal, USBTC strengthens its position in the mining industry and showcases its ability to secure partnerships amidst the evolving cryptocurrency landscape. By hosting thousands of Bitcoin miners, USBTC demonstrates its expertise in providing reliable and secure data center solutions for crypto mining operations.
The collaboration with Celsius and the management of its mining division positions USBTC as a key player in the asset management sector, with the potential to handle a significantly larger number of Bitcoin miners in the future. This underscores USBTC’s commitment to driving innovation and driving the industry forward.
Furthermore, the completion of the merger with Hut 8 Mining Corp solidifies USBTC’s market position and expands its capabilities in Bitcoin mining. Hut 8 Corp is poised to become a major player in the Bitcoin mining industry, leveraging the expertise and resources of both USBTC and Hut 8 Mining Corp.
Overall, these developments highlight the growing influence of USBTC in the crypto mining sector. As the company continues to forge partnerships and expand its operations, it is well-positioned to capitalize on the increasing demand for reliable and efficient data center solutions for cryptocurrency mining.
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US Bitcoin Corp to host 8,500 of Celsius’ mining rigs as part of asset management deal