US Data Mining, the administrator of US Bitcoin Corporation, and Celsius Network announced a deal to place the first batch of 8,500 miners with an estimated hash rate of 820 Ph/s.

The USBTC Alpha site was chosen due to its green energy profile and strategic geographic location to enable efficient and green mining of crypto assets.

In total, US Bitcoin (USBTC) plans to operate a fleet of more than 310,000 bitcoin mining devices, including equipment formerly owned by Celsius and its clients.

The initial placement of its own miners became possible after the Fahrenheit consortium, which includes USBTC, Arrington Capital, Proof Group Capital Management, Steven Kokinos and Ravi Kaza, won a tender to acquire the assets of the bankrupt crypto lender Celsius Network.

Previously, Argo Blockchain provided shareholders with an unaudited report on the results of operations for January-June 2023, where the mining company reported a 31% drop in revenue.