Celsius sells bitcoin mining machines for $1.3 million
TL;DR The bitcoin mining arm of bankrupt crypto lender Celsius is selling 2,700 MicroBT M30S units for $1.3 million to investment firm Touzi Capital. The buyer is responsible for all shipping costs. Bitcoin miners have faced tough economics over the past year, with the coin's price declining and energy prices spiking, leading to a decline in ASIC machine prices.
The bitcoin mining arm of bankrupt crypto lender Celsius is selling machines worth $1.3 million.
The firm is letting go of nearly 2,700 "new-in-box" MicroBT M30S units, according to a Jan. 11 notice of sale filed with the U.S. Bankruptcy Court for the Southern District of New York.
The buyer is investment firm Touzi Capital, which will be responsible for all shipping costs. Touzi is a small firm based in Cupertino, Calif. that invests in multifamily apartment buildings, senior living real estate and bitcoin mining.
"Debtors held discussions with several brokers and market participants," the filing said. "The debtors determined the price offered by Touzi Capital LLC was the best offer."
Celsius' hosting provider Core Scientific, which also recently filed for bankruptcy, got the greenlight last week to power off all of Celsius' machines.
The two firms had been in a dispute for the past few months over the terms of their hosting agreement, with Celsius filing a motion to enforce the automatic stay in September. The firm is also one of Core's creditors.
Bitcoin miners have faced tough economics over the past year, with the coin's price declining and energy prices spiking. As mining becomes less profitable, prices for ASIC machines have followed, losing over 80% of their value last year.