Digital currency miner Celsius has entered into an agreement with US Blockchain Technology Corp (USBTC) in which USBTC will become the exclusive operator of Celsius’ mining fleet. Under the deal, USBTC will receive a $15m annual management fee for the mining assets, net of operating expenses, for five years. USBTC must meet certain operational requirements to receive the fee, which amounts to $75m on top of expenses.
This article originally appeared on www.coindesk.com
Recently, USBTC, a cryptocurrency mining and blockchain technology company, announced its acquisition of substantial assets from Celsius, a leading provider of blockchain-based financial services. With this strategic partnership, USBTC aims to become a mining giant in the Bitcoin (BTC) ecosystem.
The deal allows USBTC to purchase a significant number of Celsius’ Bitcoin mining machines, as well as its data centers and other associated assets. This move positions USBTC as one of the largest Bitcoin mining companies in North America, capable of processing high volumes of transactions and earning substantial profits in the process.
This strategic acquisition is in line with USBTC’s mission to be a leader in the blockchain technology space. The company has been expanding its operations over the years and is now one of the most trusted names in the industry. The company has extensive experience in managing mining operations and operates a fleet of state-of-the-art mining rigs in several geographically dispersed regions.
The acquisition of Celsius’ mining machines will allow USBTC to diversify its current operations and increase its production capacity. It will also provide access to cutting-edge technology that can improve the efficiency and profitability of the mining process.
Moreover, Celsius has been known for its dedication to sustainability, and this focus aligns well with USBTC’s corporate responsibility goals. Both companies have always prioritized the use of renewable energy sources in their mining operations, and the acquisition of Celsius’ assets will allow USBTC to continue this path and reduce its environmental impact.
In conclusion, the acquisition of Celsius’ assets is a strategic move by USBTC to grow its business in the Bitcoin mining space. With a strong focus on sustainability, state-of-the-art technology, and a team of experienced professionals, USBTC is well on its way to achieving its goal of becoming a mining giant in the world of cryptocurrency.