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Revolutionizing the Mining Industry: US Bitcoin Corp to Host 8,500 BTC Miners for Celsius

Jack Evans
Sep 1, 2023 at 07:02 pm

The crypto world is abuzz with excitement as US Bitcoin Corp (USBTC) takes a monumental leap forward in the mining industry. In a groundbreaking move, USBTC has announced its plan to host 8,500 Bitcoin miners from the struggling crypto lender, Celsius, at its Alpha Site. This strategic partnership is set to reshape the landscape of cryptocurrency mining, with an estimated hashrate of a staggering 820 petahash (PH) soon to be unleashed.

But that's not all; this is just the tip of the iceberg. USBTC has inked a larger-than-life deal that could potentially put them in charge of managing up to a whopping 310,000 Bitcoin (BTC) miners. These miners will not only belong to Celsius but also to other industry giants like Teslawatt, Foundry USA, Marathon Digital, Decimal Group, and Sphere 3D. This marks a turning point in the crypto mining arena, with USBTC at the forefront of innovation and progress.

This journey began back in May when USBTC, in collaboration with partners in the Fahrenheit LLC consortium, won the auction to manage Celsius assets. These assets encompass a lending portfolio and an impressive fleet of approximately 122,000 mining machines. USBTC is set to play a pivotal role in managing the mining division of the bankrupt lender and is gearing up to establish and operate a massive 100-megawatt Bitcoin mining facility.

As Celsius progresses through its restructuring process, USBTC is poised to enter into operating and service agreements with the newly rejuvenated firm, pending approval from the bankruptcy court. Asher Genoot, the visionary President and Co-founder of US Bitcoin Corp, expressed his excitement about this transformative deal, stating, "As we move forward with Fahrenheit, we're starting a new chapter that builds on past achievements. The collaboration between USBTC, Celsius, and Fahrenheit shows our dedication to reshaping the mining industry."

In a related development, USBTC has successfully completed its merger with the prominent Bitcoin mining company, Hut 8 Mining Corp. This merger, initially announced in February, has given birth to a new entity named Hut 8 Corp, further solidifying USBTC's position as a trailblazer in the crypto mining sector.

The partnership between US Bitcoin Corp and Celsius is nothing short of a crypto revolution. With the potential to manage a colossal number of miners and reshape the industry, this collaboration marks a monumental step forward. As the crypto world eagerly awaits the outcome of Celsius's restructuring and USBTC's continued innovations, one thing is clear: the future of crypto mining has never looked brighter.

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