When Celsius announced last July that it was concentrating some of its operations on cryptocurrency mining as part of its restructuring, we learn that its mining arm, Celsius Mining, will sell 2,700 machines. The purchase agreement worth more than 1.3 million dollars was signed by Touzi Capital investment company.
Celsius sells bitcoin mining machines
way out perspective for Celsius seems to be shrinking. And for good reason, the mining department of the bankruptcy company will sell about 2700 Bitcoin (BTC) mining machinesrepresents Over $1.3 million.
A surprising decision since Celsius announced last July that it was targeting BTC mining as part of its US Chapter 11 defense. Despite this, the environment is currently unfavorable even for cryptocurrency minersespecially because of the cost of energy, Celsi was losing more money than he was making on this activity.
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The machines sold by Celsius are all M30S models hashrate It ranges from 84 to 92 TH/s and ranges from $476.28 to $521.64 depending on their performance.
Excerpt from document provided by Celsius
According to a January 11 filing by Celsius with the US Bankruptcy Court for the Southern District of New York, Touzi Capital is the company that will buy these mining machines. Touzi is a company that specializes in various fields, including real estate, but also invests in Bitcoin mining. It already owns several mining farms in the United States.
According to the document, it was Touzi who made the most reasonable offer to acquire this equipment. The company was selected after Celsius spoke to “several brokers and market participants.”
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Celsi’s financial situation
Proceeds from the sale will be used for “general and business expenses,” according to a document filed by Celsius. The explanation, with rather vague outlines, moreover, won the legal objection of Celsi’s creditor, Víctor Ubierna de las Heras. filing with the appropriate bankruptcy court :
“They say that the proceeds from the sale are intended to be used for ‘general and business expenses.’ It’s like saying nothing. Overhead and business expenses can mean everything and nothing at the same time. […] Will Celsi use the proceeds from the sale to pay off her creditors? Will Celsi pay the rent with that amount? You can’t tell by reading the contents of the document. »
It’s a double whammy for Celsi, which recently had to shut down 37,000 mining machines it leased from Core Scientific. the company can no longer afford their operating costs.
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Source: Court document
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