Crypto lender Celsius confirmed its $54 million investment in bitcoin miner Core Scientific.
The funding is part of a $200 million investment plan of Celsius in bitcoin mining in North America. Celsius said the investment would make it one of the largest U.S. investors in the bitcoin mining industry.
Alex Mashinsky, CEO of Celsius said about it’s partnership with Core that, “We are thrilled to be investment partners and are excited to see the successes they’ve had this year, and looking forward to working together to grow our joint business in the future.”
The announcement came just two days after Core Scientific’s said that it planned to go public. It will list its shares on Nasdaq via $4.3B merger with Power and Digital Infrastructure Acquisition.
Mashinsky sees these developments positively, noting that the merger would allow Core “to raise even more money”. He also highlighted Core’s carbon-neutral infrastructure. Mashinsky said that last month, Celsius joined the Bitcoin Mining Council, the voluntary organization of miners. He said that high-profile members of the Bitcoin community are concerned about mining’s environmental impact.