Celsius Adds $300M To Its Bitcoin Mining Budget

Celsius Network, the crypto money company that provides lending service, has increased its budget of $ 200 million for Bitcoin mining to $ 500 million.

Speaking to The Block, Celsius CEO Alex Mashinsky said that as a company, they plan to increase their production capacity in North America and achieve higher hash rates.

Celsius Network, which entered the mining industry last year, has approximately 20,000 bitcoin miners In addition to owning shares in mining companies such as Core Scientific, Rhodium Enterprises and Luxor Technologies.

The budget of 500 million dollars will increase the production capacity by the end of next year. gradually will be used to increase The company will announce how much of an increase in the hash rate is expected in the coming months.

Celsius, which has $28.6 billion in assets under management; to individual and corporate customers in bitcoin credit and interest yield provides.

Operating in both the lending and mining sectors, the company provides loans in bitcoin. uses its own bitcoins it will be.

The regulatory pressure on Celsius has had several states in the US over the past few months. by initiating an investigation increased together. Despite being under pressure, the company last month 400 million dollars received funding and reached a valuation of $3 billion.

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