Celsius

Bitcoin

<a href="https://bitcoinworld.co.in/ionic-digital-acquires-celsius-mining-assets-targets-market-leadership-via-public-listing/" title="Ionic Digital Acquires Celsius Mining Assets, Targets Market Leadership Via Public Listing" rel="noopener noreferrer nofollow"></a>
<ul>
 <li style="font-weight: 400">Ionic Digital is set to acquire <a href="https://celsius.network" rel="noopener noreferrer nofollow">Celsius</a>’ bitcoin mining assets and aims for a significant mining capacity of 12.7 EH/s, positioning itself as a major North American miner.</li>
 <li style="font-weight: 400">The company is also gearing up for a public listing, with a strategic partnership with Hut 8 for mining management, enhancing its operational strength and market presence.</li>
</ul>
Ionic Digital is poised to make a significant impact in the North American bitcoin mining industry as it acquires the mining assets of the bankrupt lender, Celsius, and prepares for a public listing.
With an ambitious plan to hit a mining capacity of 12.7 exahash per second (EH/s), the company is gearing up to become a formidable player in the competitive mining landscape.
See Also: <a class="row-title" href="https://bitcoinworld.co.in/celsius-network-turns-to-bitcoin-mining-to-resolve-bankruptcy-and-repay-customers/" aria-label="“Celsius Network Turns To Bitcoin Mining to Resolve Bankruptcy and Repay Customers” (Edit)" rel="noopener noreferrer nofollow">Celsius Network Turns To Bitcoin Mining to Resolve Bankruptcy and Repay Customers</a>
<h3 id="span-style-font-weight-400-acquiring-assets-and-expanding-capacity-span">Acquiring Assets And Expanding Capacity</h3>
Ionic Digital’s strategic acquisition includes approximately 87 megawatts (MW) of self-mining capacity and 142MW of hosted bitcoin mining at third-party sites from Celsius.&nbsp;
Furthermore, the inclusion of the Cedarvale site, which is under development to reach a capacity of 240MW, signifies Ionic’s commitment to expanding its mining operations significantly.&nbsp;
Currently operating at about 6 exahash per second (EH/s), Ionic is on a fast track to more than double its capacity to 12.7 EH/s once its fleets are fully operational within the year.
Ionic Digital has embarked on a significant journey to transition into a publicly-traded entity.&nbsp;
The initial phase of this transformational strategy was set into motion with the company’s recent submission of Form-10 to the U.S. Securities and Exchange Commission (SEC) on January 26.
However, this initiative transcends the conventional route of going public.&nbsp;
The company is charting a unique path by weaving a strategic partnership with the creditors of Celsius.&nbsp;
In a novel approach to corporate restructuring and stakeholder engagement, the company is offering these creditors an opportunity to partake in its growth trajectory.&nbsp;
See Also: <a class="row-title" href="https://bitcoinworld.co.in/celsius-to-unstake-thousands-of-eth-will-this-ease-eth-selling-pressure/" aria-label="“Celsius To Unstake Thousands Of ETH, Will This Ease ETH Selling Pressure?” (Edit)" rel="noopener noreferrer nofollow">Celsius To Unstake Thousands Of ETH, Will This Ease ETH Selling Pressure?</a>
By allocating common stock as a form of equity, Ionic Digital is not just opening its doors to new investments but is also fostering a collaborative ecosystem where the creditors become an integral part of the company’s evolving story and future successes.
<h3 id="span-style-font-weight-400-ionic-digital-navigating-competition-and-ensuring-robust-operations-span">Ionic Digital Navigating Competition And Ensuring Robust Operations</h3>
As the bitcoin halving event looms, promising to slash mining rewards by half, Ionic Digital is gearing up to face stiff competition.&nbsp;
The company is not alone in its pursuit to go public, with entities like Swan Bitcoin’s mining business unit also announcing similar intentions.&nbsp;
However, Ionic is confident in its preparedness to tackle the growing competition by leveraging its flexibility and robust financial backing.
Ionic Digital has fortified its market position through a strategic alliance with Hut 8 (HUT), which has recently merged with US Bitcoin Corp. (USBTC).
The collaboration entrusts Hut 8 with the management of Ionic’s mining operations, ensuring efficiency and expertise in their mining endeavors.&nbsp;
The partnership not only signifies a pivotal operational shift but also promises substantial financial benefits for Hut 8, projecting an annual revenue exceeding $20 million, complemented by an allocation of restricted stock and incentive equity, marking a significant milestone in their collaborative journey.
<h3 id="span-style-font-weight-400-conclusion-span">Conclusion</h3>
Ionic Digital’s acquisition of Celsius’ mining assets and its aggressive expansion plan reflect the company’s ambition to cement its position as a leading force in the bitcoin mining industry.&nbsp;
With a significant increase in mining capacity, a strategic path to going public, and robust operational partnerships, Ionic Digital is gearing up to navigate the competitive mining landscape and emerge as a top contender in the North American market.&nbsp;
As the industry anticipates the bitcoin halving event and its implications, all eyes will be on Ionic Digital’s next moves in the high-stakes domain.
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The post <a href="https://bitcoinworld.co.in/ionic-digital-acquires-celsius-mining-assets-targets-market-leadership-via-public-listing/" rel="noopener noreferrer nofollow">Ionic Digital Acquires Celsius Mining Assets, Targets Market Leadership Via Public Listing</a> appeared first on <a href="https://bitcoinworld.co.in" rel="noopener noreferrer nofollow">BitcoinWorld</a>.

Ionic Digital Acquires Celsius Mining Assets, Targets Market Leadership Via Public Listing

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