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 <h2 id="us-bitcoin-corp-gets-8500-miners">US Bitcoin Corp Gets 8500 Miners</h2> 
 <p>North America’s leading <a rel="dofollow" title="Bitcoin mining" href="https://thebittimes.com/tag/bitcoin-mining.html">Bitcoin mining</a> company US Bitcoin Corp (USBTC) has secured a deal with a deal with Celsius Network to run an initial 8,500 miners at the USBTC Alpha Site. The miners have an estimated sticker hashrate of 820 petahash (PH), as per a press release on August 31.</p>  
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 <p>USBTC is part of the Fahrenheit LLC coalition that received the bankruptcy court’s approval to acquire insolvent lender Celsius Network. The assets were previously valued at around $2 billion. Arrington Capital, Proof Group Capital Management, Steven Kokinos, and Ravi Kaza are also part of the Fahrenheit consortium.</p> 
 <p>Asher Genoot, President of USBTC, said:</p> 
 <blockquote>
  <p>“The opportunity to manage the Celsius assets marked a defining milestone. Together with Fahrenheit, we envision a future where <a rel="dofollow" title="Bitcoin mining" href="https://thebittimes.com/tag/bitcoin-mining.html">Bitcoin mining</a> is not just profitable but sustainable and industry-advancing.”</p>  
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 </blockquote> 
 <p>The company expects to manage a fleet of over 310,000 Bitcoin miners including miners owned by Celsius. US Bitcoin Corp has similar agreements with Teslawatt, Marathon Digital, Foundry USA, Sphere 3D, and Decimal Group.</p> 
 <p>Meanwhile, the company will merge with Hut 8 Mining Corp and renamed to Hut 8 Corp. It aims to establish a large-scale, publicly traded Bitcoin miner focused on “economical mining, highly diversified revenue streams, and industry leading environmental, social, and governance (ESG) practices.”</p>  
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 <p><strong>Also Read: Judge Approves New Attorney For Binance After SEC’s Secret Filing</strong></p> 
 <h2 id="celsius-plans-on-asset-sales">Celsius Plans on Asset Sales</h2> 
 <p>Celsius Networks secured the court permission to start polling its account holders over the new proposal of repaying an estimated $2 billion in Bitcoin (BTC) and Ether (ETH) via a new user-owned company.</p> 
 <p>The court has approved the disclosure statement associated with the joint reorganization plan, meeting the required standards.</p> 
 <p><strong>Also Read: XRP Lawyer Deaton And Top Analyst Predict Binance And Coinbase’s Win Against US SEC</strong></p> 
</div>    
<p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/us-bitcoin-corp-signs-major-deal-with-celsius-network-tbt61076.html">https://thebittimes.com/us-bitcoin-corp-signs-major-deal-with-celsius-network-tbt61076.html</a></p>

US Bitcoin Corp Signs Major Deal With Celsius Network

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