Bitcoin Miner Hut 8 Will Help Celsius Build Mining Farm in Texas
On December 18th, Bitcoin mining company Hut 8 signed a temporary agreement with Celsius to build a mining farm and deploy mining machines in Cedarvale, Texas, USA. Hut 8 will build a mining farm that can accommodate 66,000 mining machines and has a power supply of 215 megawatts.
7,000 ETH transferred to Celsius address, equivalent to approximately $16.45 million
Data monitored by Lookonchain shows that after a rebound in the early morning of Beijing time, Celsius address received 7,000 ETH (worth about $16.45 million), and these funds may soon be transferred to an exchange.
Celsius Begins Allowing Withdrawals for Some Users with February Deadline
Celsius, the cryptocurrency lending platform that filed for bankruptcy in July 2022, has started allowing withdrawals for some of its users enrolled in the Custody Program. These users can withdraw 72.5% of their cryptocurrency holdings, but transaction fees will reduce this amount. The deadline for these transactions is February 28, and it is important to note that this opportunity is not available to customers who voted against the reorganization plan. Celsius has faced technical challenges during this process, and legal battles continue for its CEO, Alex Mashinsky.
Celsius: Additional withdrawals available for qualified custody users starting today
Celsius announced on X platform that qualified custodial users can make additional withdrawals starting today, but currently the only assets that can be withdrawn are certain custodial assets. All other cryptocurrencies are still unable to be withdrawn. The platform suggests that users withdraw these assets from the Celsius application and immediately obtain personal records of potentially useful information, as the Celsius application is only available for a limited time.
2 Celsius wallets have transferred approximately $62 million in assets in the past 8 hours
Lookonchain has monitored that within the past 8 hours, two Celsius wallets have transferred approximately $62 million in assets, including:
Celsius deposits 5,000 ETH to Binance and OKX
According to Lookonchain monitoring, Celsius deposited 5,000 ETH ($10.12 million) into Binance and OKEx through FalconX 7 hours ago.
Celsius transferred 5,160 ETH to FalconX, worth approximately $10.63 million
According to LookonChain's monitoring, Celsius transferred 5160 ETH (worth about $10.63 million) to FalconX, as reported by ChainCatcher.Celsius also transferred a large amount of tokens to exchanges and FalconX 5 days ago, possibly planning to sell some assets if the price rises.
CEL reached a maximum of 0.3 USDT, with a 24-hour increase of 42%
According to the market data from Okex, CEL reached a high of 0.3 USDT and has now fallen to 0.28 USDT, with a 24-hour increase of 42%. Earlier today, it was reported that Celsius had filed a lawsuit seeking reconciliation with Three Arrows Capital. If successful, the original debt of $1 billion will be significantly reduced to $33 million.
Luxor: The new Bitcoin computing power product is not a scam and will not repeat the failure experience of BlockFi or Celsius
Bitcoin mining service company Luxor said that its upcoming Bitcoin hash rate support product should not be compared to the failed products of BlockFi or Celsius because Luxor's product returns come from proof of work (PoW) and not from a "Ponzi scheme". Luxor's product allows investors to provide Bitcoin as collateral to Luxor to obtain a portion of the loan repayment, and then Luxor lends it to other miners for their operations; returns are generated when hash rate is "locked" by purchasing it at a discounted price from Bitcoin miners and selling it at a higher price. The Bitcoin rewards from mining come from that hash rate. Luxor expects investor returns to be between 10% and 13%. This process will be managed through Luxor's upcoming hash rate market. (Cointelegraph)
Celsius Lawyer: Revival Plan Includes $450 Million in Seed Funding
Bankrupt crypto lending platform Celsius has found a way to fund its proposed restart. Celsius' lawyer, Christopher S. Koenig, stated in the bankruptcy proceedings that the company plans to exit bankruptcy with $450 million in seed funding. This funding will come from Fahrenheit LLC, a group of companies highly involved in the Celsius bankruptcy case. Fahrenheit won the Celsius asset bidding in May 2023 and voted on the asset sale in August.
