Bitcoin mining company U.S. Bitcoin Corp (USBTC) has announced its intention to employ the mining assets of Celsius, the defunct crypto lender. The development follows the acquisition of application-specific integrated circuit (ASIC) machines from the bankrupt company by the Fahrenheit coalition, of which USBTC is a member. USBTC said it aims to revive the fleet of 121,800 Celsius machines and foresees a 12.2 exahash per second (EH/s) boost to its mining operations.
US Bitcoin Corp Assumes Control of Restructured Celsius Mining Unit
According to an announcement on May 25, 2023, U.S. Bitcoin Corp (USBTC) has plans to utilize the mining assets of the now-bankrupt crypto lender, Celsius. After multiple rounds of bidding for the restructured mining division of Celsius, USBTC submitted a winning bid for the Fahrenheit coalition. The Fahrenheit coalition is a group that consists of Ravi Kaza, Steven Kokinos, Proof Group Capital Management, Arrington Capital, and USBTC. Following the restruct
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