Celsius, a cryptocurrency mining firm, has announced a deal with US Bitcoin Mining (USBTC) that will see the latter become the exclusive operator of Celsius’ mining fleet. Under the terms of the agreement, USBTC will receive a $15 million annual management fee for the mining assets, net of operating expenses, for the five years it will manage the rigs. This amounts to a total of $75 million, provided that USBTC meets certain operational requirements.
The move comes as the cryptocurrency mining industry continues to experience significant growth, with more and more companies seeking to capitalize on the booming market. In recent years, mining has become a lucrative business, with many investors looking to get in on the action.
Celsius’ decision to partner with USBTC is a strategic move that will help the company expand its operations and reach new markets. By entrusting the management of its mining fleet to USBTC, Celsius can focus on other areas of its business, such as research and development, marketing, and customer service.
This partnership is just the latest in a series of deals that have been struck in the cryptocurrency mining industry in recent months. As the market continues to grow, it is likely that we will see more partnerships and collaborations between companies looking to stay ahead of the competition.
As the world of cryptocurrency continues to evolve, it is important for companies to stay on top of the latest trends and developments. By partnering with other industry leaders, firms like Celsius can ensure that they remain at the forefront of this exciting and rapidly changing market.