Celsius' mining arm announces $1.3M sale of equipment

The mining limb of crypto lender Celsius Network has issued a announcement for the merchantability of $1.3 cardinal worthy of mining instrumentality arsenic portion of its bankruptcy case.

In a Jan. 11 filing with the United States Bankruptcy Court of the Southern District of New York, Celsius said it volition beryllium selling 2,687 MicroBT M30S ASIC rigs to concern steadfast Touzi Capital. Touzi, which invests existent property and blockchain, volition wage Celsius Mining much than $1.3 cardinal for the miners, located astatine a Texas facility.

According to Celsius, Touzi made the champion connection for the miners pursuing discussions with “several brokers and marketplace participants”. The lending steadfast announced successful January that Core Scientific had shut down much than 37,000 Celsius-owned mining rigs the steadfast had been hosting.

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Celsius filed for Chapter 11 bankruptcy successful July 2022, leaving a reported $4.7 cardinal successful idiosyncratic deposits locked up connected the platform. In a December tribunal ruling, a national judge said Celsius had until Feb. 15 to record a restructuring plan.

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The United States is the planetary person successful the Bitcoin (BTC) hash rate, which was much than 37% arsenic of December 2021 according to information from the Cambridge Bitcoin Electricity Consumption Index. However, the crypto marketplace clang successful 2022 affected the profitability of mining, arsenic has utmost upwind events requiring facilities to curtail operations.