Crypto lender Celsius confirmed Friday that it had invested $54 million in bitcoin miner Core Scientific.
The funding is part of Celsius’ planned $200 million investment in bitcoin mining in North America, according to the company. Celsius said the investment would make it one of the largest U.S. investors in the bitcoin mining industry.
Core Scientific is the largest host of bitcoin mining machines in North America.
The announcement comes just two days after Core Scientific said that it planned to list its shares on Nasdaq through a merger with Power & Digital Infrastructure Acquisition. The miner will have a value of $4.3 billion.
In May, Michael Levitt, the co-founder and chairman of Core Scientific, took over as CEO after Kevin Turner stepped down.
Celsius CEO Alex Mashinsky said in the company’s statement that Celsius was “looking forward to working together to grow our joint business in the future.”
Source: Coindesk
