According to reports, Celsius Network has invested an additional US$300 million in its Bitcoin mining business in North America. The financing will be used to increase its Bitcoin mining power and power capacity. Celsius CEO Alex Mashinsky stated that Celsius is currently operating approximately 22,000 Bitcoin ASIC mining machines and will continue to increase production capacity until the end of 2022. Celsius Network previously made a US$200 million equity investment in Bitcoin mining companies Core Scientific, Rhodium Enterprises, and mining pool Luxor Technologies, and the bitcoins from its mining will be used for bitcoin lending.
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