Claim $500Just-In: US Bitcoin Corp Signs Major Deal With Celsius Network
US Bitcoin Corp on Thursday announced it has secured a deal with Celsius Network LLC to host crypto miners at the USBTC Alpha Site. This marks a significant development after the Fahrenheit LLC consortium won the bid to acquire assets of bankrupt crypto lender Celsius Network. Amid the rising Bitcoin mining difficulty, the deal is beneficial for both entities.
US Bitcoin Corp Gets 8500 Miners
North America’s leading Bitcoin mining 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.
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.
Asher Genoot, President of USBTC, said:
“The opportunity to manage the Celsius assets marked a defining milestone. Together with Fahrenheit, we envision a future where Bitcoin mining is not just profitable but sustainable and industry-advancing.”
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.
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.”
Also Read: Judge Approves New Attorney For Binance After SEC’s Secret Filing
Celsius Plans on Asset Sales
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.
The court has approved the disclosure statement associated with the joint reorganization plan, meeting the required standards.
Also Read: XRP Lawyer Deaton And Top Analyst Predict Binance And Coinbase’s Win Against US SEC
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Dormant Bitcoin Whale Awakens with $30M Profit
- Bitcoin, AI Coins Bounce as Nvidia Signs $20B AI Inference Deal with Groq
- PENGU Rises Despite Crypto Market Downtrend as Pudgy Penguins Appear on Las Vegas Sphere
- Binance Lists First Nation–Backed Stablecoin; CZ Reacts
- U.S. Initial Jobless Claims Fall To 214,000; BTC Price Drops
- XRP, Bitcoin, Ethereum Price Predictions Ahead of Jan 2026 CLARITY Act and US Crypto Reserve Plans
- Pi Network Analysis: Pi Coin Price Surges on Christmas Eve, Can It Hit Year-End Highs?
- Why Dec 26th Is A Do Or Die for Bitcoin Price Ahead Of Record Options Expiry?
- Why Bitcoin, Ethereum And XRP Prices Are Down Today? (24 Dec)
- XRP Price Prediction: Will 4 Billion Transactions Spark Next Rally?
- Solana Price Outlook: Will SOL Recover With Strong Institutional Buying?
