Hut 8 to manage mining operations for Celsius’s newly-created MiningCo
Hut 8 says it will manage mining operations for MiningCo at five sites under a four-year contract. The digital asset miner will oversee 122,000 miners with 12 EH/s of computing capacity and over 300 MW of energy. The announcement follows the US bankruptcy court’s approval of Celsius Network’s reorganization plan. Hut 8 Corp, a digital asset miner headquartered in Miami, Florida, will manage the mining operations of MiningCo, a newly created mining company approved by the US Bankruptcy Court for the Southern District of New York in view of the Celsius Network LLC reorganization plan. The plan allows Celsius to transfer its mining operations to MiningCo. It’s part of Celsius Network’s bankruptcy proceedings. Hut 8 to provide managed services under 4-year contract As CoinJournal reported, US bankruptcy judge Martin Glenn approved the restructuring plan that allows Celsius Network to pivot its operations fully to Bitcoin mining. In its ...