Celsius Investors Will Receive $200 Million In Bitcoin Mining Income
According to Alex Mashinsky, the CEO of centralized cryptocurrency market Celsius, a part of the profit from the company’s investments in the infrastructure of Bitcoin mining will be redistributed back to depositors.
In a chat with Cointelegraph, Mashinsky stated that the company’s mining expansion has added a fifth stream of revenue generation for its crypto investors.
In early June, Celsius invested over $200 million in Bitcoin mining in North America and in positions at Core Scientific, Rhodium Enterprises and Luxor Technologies.
Mashinsky said that thanks to the creation of a Bitcoin mining farm the firm can pay depositors the interest in Bitcoins.
The Celsius platform was founded in 2017. It offers deposit income for over 40 digital assets including Bitcoin, Ethereum and stablecoins.
Mashinsky is optimistic about the Bitcoin exchange rate. He believes that by the end of the year, the price will fluctuate between 140-160 thousand dollars. However, he believes the market will peak before 2022.