Fahrenheit wins the asset auction of the bankrupt crypto lending company Celsius

ChainCatcher news, according to CoinDesk, reports that based on court documents submitted early Thursday, the cryptocurrency consortium Fahrenheit has won the bid to acquire the bankrupt crypto lending company Celsius Network, whose assets were previously valued at approximately $2 billion. Although the bid has been accepted by Celsius and a committee of its creditors, it still requires regulatory approval to complete the acquisition.

Court documents show that the group will acquire Celsius's institutional loan portfolio, staked cryptocurrencies, mining operations, and other alternative investments, and must pay a $10 million deposit within three days to solidify the deal. According to the terms of the transaction, the new company will receive $450 million to $500 million in liquid cryptocurrencies, and US Bitcoin Corp will build a series of cryptocurrency mining facilities, including a new 100-megawatt plant.

It is reported that Fahrenheit is a buyer consortium made up of venture capital firm Arrington Capital and mining company US Bitcoin Corp, selected as the winning bidder after a lengthy auction process. (source link)