Celsius' mining division reports a $1.3 million equipment sale

By: Henry Felix

Celsius' mining division reports a $1.3 million equipment sale

January 13, 2023 9:35 PM

Touzi Capital, according to Celsius, made the best offer for the mining equipment after conversations with "many brokers and market parties."

As part of its bankruptcy proceedings, Celsius Network's mining subsidiary has issued a notice for the sale of $1.3 million in mining equipment.

Celsius claims it would sell 2,687 MicroBT M30S ASIC rigs to investment firm Touzi Capital in a Jan. 11 filing with the United States Bankruptcy Court for the Southern District of New York. Touzi, a real estate and blockchain investment firm, will pay Celsius Mining more than $1.3 million for the miners, which are housed at a Texas facility.

Touzi made the greatest offer for the miners after conversations with "many brokers and market participants," according to Celsius. In January, the financing firm reported that Core Scientific had shut down over 37,000 Celsius-owned mining equipment that it had been hosting.

Celsius declared bankruptcy in July 2022, leaving a projected $4.7 billion in consumer deposits on the platform. A federal judge ruled in December that Celsius had until February 15 to draft a restructuring plan.

According to data from the Cambridge Bitcoin Electricity Consumption Index, the United States is the global leader in Bitcoin (BTC ) hash rate, with more than 37% as of December 2021. However, the 2022 crypto market fall impacted mining profits, as did harsh weather events that forced facilities to shut down.