Canadian Bitcoin mining company Hut 8 has signed a tentative agreement to launch a new mining site in Cedarvale, Texas, which will house nearly 66,000 mining machines.
Hut 8 president Asher Genoot said the agreement had the dual objectives of building equity with Celsius' creditors while also strengthening the management services business. Under an interim agreement with Celsius, Hut 8 will provide end-to-end development services for the Cedarvale site. Construction is expected to begin in the coming weeks, with Hut 8 expected to provide services such as design, engineering, financial modeling, budgeting, accounting, construction management, procurement, logistics and RFP coordination. (Cointelegraph)