Crypto lending platform Celsius increases Bitcoin mining investment to $500 million

According to reports, Alex Mashinsky, CEO of crypto lending platform Celsius, stated that Celsius had increased its bitcoin mining investment to $500 million to expand its proprietary bitcoin mining hash rate and power capacity in North America. Before this US$300 million investment, earlier this year, Celsius invested US$200 million in Bitcoin mining machines and shares in Bitcoin mining companies Core Scientific, Rhodium Enterprises, and mining pool Luxor Technologies. Core Scientific is conducting a merger transaction to go public, while Rhodium has applied for an IPO in the United States with a funding goal of $100 million.