Celsius Network Invests $ 200 Million in BTC Mining in North America

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Cryptocurrency lending platform Celsius Network announced a $ 200 million investment in Bitcoin mining in North America. The investments will go to several local companies at once.

Part of the funds will go to the purchase of mining equipment, which will be located in the infrastructure center for Core Scientific blockchain projects. The Texas mining company Rhodium Enterprises and Luxor Technologies will also receive investments. The new investment should make the Celsius Network one of the largest investors in the US mining industry.

“Celsius recognizes that bitcoin, as the leading cryptocurrency, still sets the course for the entire cryptocurrency industry. Therefore, we consider it a priority for the company to help develop Bitcoin mining in North America using renewable resources. We have invested in leading companies and are pleased to be partners in this venture, ”said Alex Mashinsky, CEO of the lending platform.

Core Scientific CEO Michael Levitt emphasizes that the company welcomes the opportunity to expand its business while remaining “100% CO neutral2».

As of November last year, the Celsius Network managed assets worth more than $ 2.2 billion. At the same time, in April of this year, hackers were able to obtain data from clients of the platform.

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