The mining arm of crypto lender Celsius Network has announced a sale worth $1.3 million for their mining equipment.
A notice for the sale of mining equipment valued at $1.3 million has been published by Celsius Network’s mining division as part of the company’s bankruptcy proceedings.
Celsius reports that it will be selling 2,687 MicroBT M30S ASIC rigs to investment company Touzi Capital in a filing made on Jan. 11 with the United States Bankruptcy Court for the Southern District of New York.
The miners are placed at a Texas location, and Touzi, which invests in real estate and blockchain, will pay Celsius Mining more than $1.3 million for them.
After talking to “several brokers and market participants” Touzi allegedly negotiated the best deal for the miners. In January, the loan company said that Core Scientific had shut down more than 37,000 mining machines owned by the lending firm that it had been hosting.
In July 2022, Celsius filed for Chapter 11 bankruptcy, locking up an estimated $4.7 billion in consumer deposits on the platform. A federal judge ruled in December that Celsius had until February 15 to submit a restructuring plan.
According to data from the Cambridge Bitcoin Electricity Consumption Index, the hash rate of Bitcoin (BTC $20,794), which was above 37% as of December 2021, is the highest in the world.
However, extreme weather conditions that forced facilities to curtail production and the 2022 crypto market meltdown both had an impact on the profitability of mining.
