Celsius

Decimal

Foundry

Sphere

<div class="cryptonews"> 
 <p class="is-style-lead">Data center operator US Bitcoin Corp (USBTC) has announced it will host 8,500 Bitcoin <a rel="noopener noreferrer nofollow" title="miners" href="https://thebittimes.com/tag/miners.html">miners</a> from the insolvent crypto lender Celsius at its Alpha Site.&nbsp;</p> 
 <p>A press statement on Aug. 31 revealed that the <a rel="noopener noreferrer nofollow" title="miners" href="https://thebittimes.com/tag/miners.html">miners</a> are expected to have an estimated hashrate of 820 petahash (PH).</p> 
 <p>The hosting arrangement is part of a more significant deal that could see USBTC managing as many as 310,000 Bitcoin (BTC) <a rel="noopener noreferrer nofollow" title="miners" href="https://thebittimes.com/tag/miners.html">miners</a>. These <a rel="noopener noreferrer nofollow" title="miners" href="https://thebittimes.com/tag/miners.html">miners</a> would belong to Celsius and other clients like Teslawatt, Foundry USA, Marathon Digital, Decimal Group, and Sphere 3D.</p> 
 <p>In May, USBTC, in collaboration with other partners in the Fahrenheit LLC consortium, won the auction to manage Celsius assets. These assets comprise a lending portfolio and approximately 122,000 mining machines.</p> 
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 <p>USBTC will manage the <a rel="noopener noreferrer nofollow" title="bankrupt" href="https://thebittimes.com/tag/bankrupt.html">bankrupt</a> lender’s mining division and play a key role in setting up and operating a 100-megawatt Bitcoin mining facility.</p> 
 <p>When Celsius completes its restructuring process, USBTC can enter into operating and service agreements with the newly restructured firm, pending approval from the <a rel="noopener noreferrer nofollow" title="bankrupt" href="https://thebittimes.com/tag/bankrupt.html">bankrupt</a>cy court.</p> 
 <p>Asher Genoot, the president of USBTC, described the deal as a significant step for the mining industry.</p> 
 <blockquote class="wp-block-quote"> 
  <p>“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.”</p> <cite>Asher Genoot, president and co-founder of US Bitcoin Corp (USBTC)</cite> 
 </blockquote> 
 <p>In related news, USBTC has finalized its merger with Bitcoin mining company Hut 8 Mining Corp. The merger, initially announced in February, has led to the creation of a new entity, Hut 8 Corp.</p> 
 <h2 class="wp-block-heading" id="celsius-plans-for-asset-sales">Celsius plans for asset sales</h2> 
 <p>Meanwhile, Celsius has received court approval to poll its account holders about a new proposal to repay an estimated $2 billion in Bitcoin (BTC) and Ether (ETH) through a new user-owned company.</p> 
 <p>The court has given the green light to the disclosure statement related to the joint reorganization plan, confirming that it meets the required standards.</p> 
 <div class="cn-block-related-link"> 
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"> <use xlink:href="#"></use> 
  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> What happened to Celsius Network: a year in review 
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/us-bitcoin-corp-to-host-8-500-btc-miners-for-bankrupt-celsius-tbt61197.html">https://thebittimes.com/us-bitcoin-corp-to-host-8-500-btc-miners-for-bankrupt-celsius-tbt61197.html</a></p>

US Bitcoin Corp to host 8,500 BTC miners for bankrupt Celsius

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