{"id":288176,"date":"2021-07-01T05:42:29","date_gmt":"2021-07-01T02:42:29","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/celsius-users-to-receive-yield-from-its-200m-bitcoin-mining-investment\/"},"modified":"2021-07-01T05:42:29","modified_gmt":"2021-07-01T02:42:29","slug":"celsius-users-to-receive-yield-from-its-200m-bitcoin-mining-investment","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/celsius-users-to-receive-yield-from-its-200m-bitcoin-mining-investment\/","title":{"rendered":"# Celsius users to receive yield from its $200M Bitcoin mining investment"},"content":{"rendered":"

“# Celsius users to receive yield from its $200M Bitcoin mining investment <\/strong>”
\n<\/p>\n

Alex Mashinsky, the CEO of centralized crypto money market Celsius, has revealed that a share of profits from the company’s recent $200 million investment into Bitcoin mining infrastructure will be redistributed back to depositors.<\/p>\n

Speaking to Cointelegraph, Mashinsky stated the firm’s mining expansion has added a fifth stream of yield generation for its crypto depositors \u2014 alongside lending funds to institutional investors, leveraging DeFi protocols, retail lending, and market making on centralized exchanges.<\/p>\n

In early June, Celsius announced it had invested<\/a> more than $200 million into North American Bitcoin mining infrastructure and positions in Core Scientific, Rhodium Enterprises and Luxor Technologies. <\/p>\n

\u201cA big chunk of our community owns Bitcoin and they want to be paid in Bitcoin,\u201d he said, adding: \u201cSo, there’s nothing better than building a factory that makes Bitcoin.\u201d<\/p>\n

\u201cBy creating a mining business we are guaranteeing that we can pay our community what we owe them, which is interest in Bitcoin.\u201d <\/p><\/blockquote>\n

Celsius was founded by the serial entrepreneur in 2017, with the platform offering yield on deposits for more than 40 digital assets including Bitcoin, Ethereum, and stablecoins. <\/p>\n

Celsius\u2019 mining expansion comes as Mashinsky notes Bitcoin yields are shrinking amid the growth of DeFi, with numerous protocols offering interest in the form of BTC on Bitcoin deposits. Celsius doesn\u2019t charge any management fees from users, but instead takes 20% or more of the profits generated.<\/p>\n

The company is not alone looking to invest in North America\u2019s mining sector, with analysts expecting the continent will see an influx of miners who have been dislocated by China\u2019s recent crackdown on the sector. <\/p>\n

Mashinsky is unsurprised by China\u2019s regulatory moves, characterizing the clampdown as a move to eliminate competition and protect its emerging central bank digital currency (CBDC).<\/p>\n

Ultimately, Celsius\u2019 CEO argues the Chinese miner exodus will prove to be beneficial for the decentralization of the Bitcoin network, stating:<\/p>\n

\u201cMoving a lot of the miners out of China is definitely helping Bitcoin get decentralized even more. So it’s a good thing for Bitcoin, just not necessarily a good thing for the citizens of China.\u201d<\/p><\/blockquote>\n

Related:\u00a0 Cointelgraph Magazine \u2014 <\/em>The adventures of the inventive Alex Mashinsky<\/em><\/strong><\/p>\n

The CEO has bullish expectations of Bitcoin\u2019s price for the rest of the year, asserting that the price will tag heights of \u201canywhere between $140,000 and $160,000.\u201d<\/p>\n

However, he believes the markets will peak before 2022, asserting Bitcoin will \u201cclose the year below $100,000\u201d after sellers step in to take profits in the six-figure price range.<\/p>\n