According to Foresight News, the cryptocurrency consortium Fahrenheit has won the acquisition of the bankrupt crypto lending company Celsius Network, which previously had assets worth about $2 billion. Court documents show that the group will acquire Celsius's institutional loan portfolio, pledged cryptocurrencies, mining departments and other alternative investments, and must pay a $10 million deposit within three days to consolidate the transaction.
Fahrenheit is a consortium of buyers consisting of venture capital firm Arrington Capital and mining company US Bitcoin Corp. Under the terms of the deal, the new company will receive $450 million to $500 million in liquid cryptocurrency, and US Bitcoin Corp will build a series of crypto mining facilities, including a new 100-megawatt plant. The bid has been accepted by a committee of Celsius and its creditors, but still requires regulatory approval before the acquisition can be completed.