TechFlow news, according to CoinDesk, bitcoin mining company Ionic Digital is acquiring mining assets from bankrupt lending firm Celsius. The company aims to become one of North America's largest miners and expects to go public within the next few months.
Ionic will acquire all of Celsius’ mining assets, including 87 megawatts (MW) of self-mining capacity, 142 MW of third-party hosted bitcoin mining capacity, and the Cedarvale site currently under development with an expected capacity of 240 MW. Ionic currently operates at 6 EH/s and expects to reach 12.7 EH/s by the end of this year. Creditors of Celsius will become shareholders in Ionic, holding equity in the form of common stock.
Matt Prusak, former Chief Commercial Officer of Hut 8 and USBTC, will serve as CEO of Ionic. Asher Genoot, President of Hut 8, will also join the board of directors of the new company.
