Bitcoin

<ul><li>US Bitcoin Corporation acquired the assets of the bankrupt Celsius Network in an auction.</li><li>A court filing stated that the consortium Fahrenheit would acquire the assets of Celsius.</li><li>USBTC, being a part of the consortium, would become the leading miner in the US, as per the proposal.</li></ul>The industrial-scale operator of Bitcoin mining sites US Bitcoin Corporation has acquired assets from the bankrupt financial company Celsius Network, in a fierce auction. According to a<a href="https://www.businesswire.com/news/home/20230525005908/en/US-Bitcoin-Corp-selected-to-manage-restructured-mining-division-of-Celsius-Network-LLC" rel="noopener noreferrer nofollow"> </a><a href="https://www.businesswire.com/news/home/20230525005908/en/US-Bitcoin-Corp-selected-to-manage-restructured-mining-division-of-Celsius-Network-LLC" rel="noopener noreferrer nofollow">press release,</a> the mining platform has submitted the winning bid, in coalition with the consortium Fahrenheit which successfully <a href="https://ng.investing.com/news/cryptocurrency-news/celsius-network-paves-way-for-new-beginnings-with-fahrenheit-llc-894244" rel="noopener noreferrer nofollow">emerged</a> to acquire the assets of Celsius.As per a<a href="https://cases.stretto.com/public/x191/11749/PLEADINGS/1174905252380000000034.pdf" rel="noopener noreferrer nofollow"> </a><a href="https://cases.stretto.com/public/x191/11749/PLEADINGS/1174905252380000000034.pdf" rel="noopener noreferrer nofollow">court filing</a> submitted on May 25, Fahrenheit would attain the holdings and investments of Celsius Network, the company that<a href="https://www.reuters.com/technology/crypto-lender-celsius-files-bankruptcy-2022-07-14/" rel="noopener noreferrer nofollow"> </a><a href="https://www.reuters.com/technology/crypto-lender-celsius-files-bankruptcy-2022-07-14/" rel="noopener noreferrer nofollow">filed</a> for bankruptcy in July 2022. The assets included a portfolio, cryptocurrencies, and mining machines. Fahrenheit is a consortium comprising the venture capital firm Arrington Capital, USBTC, Proof Group Capital Management, Steven Kokinos, and Ravi Kaza.<a href="https://coinedition.com/usbtc-acquires-celsius-assets-to-become-lead-miner-in-the-us/" rel="noopener noreferrer nofollow">See the Original CoinEdition</a>

USBTC Acquires Celsius’ Assets to Become Lead Miner in the US

Coin Edition

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