Crypto consortium Fahrenheit has won a bid to acquire insolvent lender Celsius Network, whose assets were once valued at nearly $2 billionaccording to court filings was made early Thursday morning. The group will acquire Celsius’ institutional loan portfolio, staked cryptocurrencies, mining unit and additional alternative investments, and must pay a deposit of $10 million within three days to cement the deal, court filings show. A consortium of buyers including venture capital firm Arrington Capital and miner US Bitcoin Corp, Farenheit was selected as the successful bidder after a lengthy auction process. Under the terms of the deal, the newly formed company will get between $450 and $500 million in liquid cryptocurrency, and US Bitcoin Corp will build a range of crypto mining facilities including a new plant which is 100 megawatts.
