Under the Celsius deal, USBTC will enter into one or more operating and services agreements to be the “exclusive operator” of the Celsius mining fleet, the miner said. On top of that, USBTC will receive a $15 million annual management fee for the mining assets, net of operating expenses, for the five years it will manage the rigs, the firm added. That’s $75 million on top of expenses, provided that USBTC fulfills certain operational requirements.
Source: https://www.coindesk.com/business/2023/05/26/usbtc-aims-to-become-bitcoin-mining-giant-after-deal-to-buy-celsius-assets/?utm_medium=referral&utm_source=rss&utm_campaign=headlines