Top Tweets for #CelsiusMining
😲 Former #CelsiusMining now #IonicDigital just signed an HPC deal with NScale! The company has 2600 BTC up to 70M in cash and the 3B marketcap in within reach!
Today, Ionic Digital announced that it has secured a transformational 10-year lease agreement with Nscale for our 234 MW Cedarvale facility, valued at approximately $2 billion. This agreement diversifies our operations, establishes Ionic as an emerging energy infrastructure provider, and is expected to strengthen our operating margins and advance our long-term BTC HODL strategy.
You can read the full press release here: https://t.co/KzFPUmrrZ0
2/2) Back to the court hearing…
- Pesce highlighted that #IonicDigital faced monumental challenges upon emergence, including the need to establish an independent management team, pursue an IPO, carve out assets from #CelsiusMining into a standalone company, implement proper corporate controls & systems, manage the Midland site, complete construction at Cedarvale, & address board independence issues due to @ashergenoot from @Hut8Corp being a competitor in the mining business.
- After the original CFO from @CelsiusNetwork Mining left, #IonicDigital had to bring in FTI for interim management services for the CFO office.
- RSM, the auditor for #CelsiusMining brought in during Ch11, informed the company in May that they would no longer work w/ crypto companies. This decision halted the filing process & contributed to @Hut8Corp failure to list the company.
- Pesce argue that selecting a new auditor is a complex process involving numerous requirements & independence standards, that take several months. The company had 3 applicants, and the selection process is nearly complete. The new auditor is expected to start within 2 weeks, w/ new SEC filings anticipated this fall.
- 🚩According to Pesce, RSM completed audits for 2022 and 2023, but 2024 is still pending. The new auditor will need to sign off on RSM's audits & take over. If the new auditor does not sign, the entire audit process might need to restart, covering all previous years, a significant red flag.
- The lawyer also called out @Hut8Corp for potentially contesting the company’s intention to terminate the Hut8 management contract, despite clear evidence of the company's intent. In May, Ionic Digital's board triggered the liquidity provision in the MSA and issued a notice to terminate the agreement with Hut8 for failing to list the company by June 1st. Hut8 contested this, citing RSM's departure as the cause, which led to negotiations. On June 19, the management agreement was amended, removing many fees Ionic had to pay to Hut8 for terminating the deal, and the management fee was set at $15M. It seems Hut8 may have secured future exclusivity for new sites (unconfirmed).
- The three other buildings in Cedarvale are still under construction, expected to be completed before December 17, with penalties for Hut8 if they fail to meet this deadline.
- The company is currently reviewing CEO candidates.
- The lawyer also addressed @SimonDixonTwitt 's misrepresentation of why he wasn't accepted as a board observer. Simon publicly stated that he refused the position because he would have had to remain silent about company activities. However, the lawyer explained that Simon wasn't accepted because he wouldn’t agree to the trade policy (not selling and holding company shares).
- The lawyer also seemed to call out other companies, likely @figure and Cagney, for not adhering to the proper process of submitting honest proposals to the board of a public company. Any genuine proposal will be considered by the company.
- There are no intentions to liquidate, merge, or pursue any acquisitions at this time. The company is in full control of its destiny due to its current financial position.
- The company acknowledged its communication failures due to the ongoing filing process and will be doubling its efforts to communicate with shareholders through webcasts and financial/operational reports, as the listing process is effectively paused.
- 🚩The 29 yo @elveton101 , w/ light facial hair & no white hairs or baldness, continues to push the bear case & co-attempting a hostile takeover of the @IonicDigital w/ @mcagney. As I mentioned in both of their spaces, rushing w/ a hostile action would not achieve anything & would only hurt creditors. Any successful endeavor cannot directly attack any of the oldest service board members, meaning only 3 spots are truly open. The majority of the board must be creditors who are neutral, have no conflicting interests, not be loud, & have a management or financial background. The issue must stem from governance & a lack of transparency, & not financially or due to the board independence.
- Finally, @PriorityPower Management, in charge of building the Barberlake site, is allegedly attempting to steal $17M from creditors.
As you can see, there was a lot of substance in this hearing, adding more detail & shedding light on the board's perspective at @IonicDigital. It seems like a response to @Hut8Corp 's side of the story as seen in this interview: https://t.co/xvQfKNTipv
Based on this information, any1 at this stage advocating for liquidation is likely attempting to deceive creditors, possibly representing competing interests or engaging in dangerous power plays.
Regarding the operational management of @MattPrusak & the #Hut8 team, the numbers speak for themselves & we must have some magic electrons at @IonicDigital sites😄.
It seems Matt ultimately became a casualty of the auditor's departure & the subsequent negotiations to uphold the board's fiduciary duties & independence.
Guess @ashergenoot just spilled the beans on what happened on @IonicDigital, this is the full segment about #IonicDigital from @McnallieM & @cazenove_uk Interview to @Hut8Corp CEO Asher Genoot. #CelsiusNetwork
source below:
2/4) Back to the court hearing…
- Pesce highlighted that #IonicDigital faced monumental challenges upon emergence, including the need to establish an independent management team, pursue an IPO, carve out assets from #CelsiusMining into a standalone company, implement proper corporate controls & systems, manage the Midland site, complete construction at Cedarvale, & address board independence issues due to @ashergenoot from @Hut8Corp being a competitor in the mining business.
- After the original CFO from @CelsiusNetwork Mining left, #IonicDigital had to bring in FTI for interim management services for the CFO office.
- RSM, the auditor for #CelsiusMining brought in during Ch11, informed the company in May that they would no longer work w/ crypto companies. This decision halted the filing process & contributed to @Hut8Corp failure to list the company.
- Pesce argue that selecting a new auditor is a complex process involving numerous requirements & independence standards, that take several months. The company had 3 applicants, and the selection process is nearly complete. The new auditor is expected to start within 2 weeks, w/ new SEC filings anticipated this fall.
- 🚩According to Pesce, RSM completed audits for 2022 and 2023, but 2024 is still pending. The new auditor will need to sign off on RSM's audits & take over. If the new auditor does not sign, the entire audit process might need to restart, covering all previous years, a significant red flag.
- The lawyer also called out @Hut8Corp for potentially contesting the company’s intention to terminate the Hut8 management contract, despite clear evidence of the company's intent. In May, Ionic Digital's board triggered the liquidity provision in the MSA and issued a notice to terminate the agreement with Hut8 for failing to list the company by June 1st. Hut8 contested this, citing RSM's departure as the cause, which led to negotiations. On June 19, the management agreement was amended, removing many fees Ionic had to pay to Hut8 for terminating the deal, and the management fee was set at $15M. It seems Hut8 may have secured future exclusivity for new sites (unconfirmed).
- The three other buildings in Cedarvale are still under construction, expected to be completed before December 17, with penalties for Hut8 if they fail to meet this deadline.
- The company is currently reviewing CEO candidates.
- The lawyer also addressed @SimonDixonTwitt's misrepresentation of why he wasn't accepted as a board observer. Simon publicly stated that he refused the position because he would have had to remain silent about company activities. However, the lawyer explained that Simon wasn't accepted because he wouldn’t agree to the trade policy (not selling and holding company shares).
- The lawyer also seemed to call out other companies, likely @figure and Cagney, for not adhering to the proper process of submitting honest proposals to the board of a public company. Any genuine proposal will be considered by the company.
- There are no intentions to liquidate, merge, or pursue any acquisitions at this time. The company is in full control of its destiny due to its current financial position.
- The company acknowledged its communication failures due to the ongoing filing process and will be doubling its efforts to communicate with shareholders through webcasts and financial/operational reports, as the listing process is effectively paused.
- 🚩The 29 yo @elveton101 , w/ light facial hair & no white hairs or baldness, continues to push the bear case & co-attempting a hostile takeover of the @IonicDigital w/ @mcagney. As I mentioned in both of their spaces, rushing w/ a hostile action would not achieve anything & would only hurt creditors. Any successful endeavor cannot directly attack any of the oldest service board members, meaning only 3 spots are truly open. The majority of the board must be creditors who are neutral, have no conflicting interests, not be loud, & have a management or financial background. The issue must stem from governance & a lack of transparency, & not financially or due to the board independence.
- Finally, @PriorityPower Management, in charge of building the Barberlake site, is allegedly attempting to steal $17M from creditors.
As you can see, there was a lot of substance in this hearing, adding more detail & shedding light on the board's perspective at @IonicDigital. It seems like a response to @Hut8Corp's side of the story as seen in this interview:
https://t.co/xvQfKNSKzX
Based on this information, any1 at this stage advocating for liquidation is likely attempting to deceive creditors, possibly representing competing interests or engaging in dangerous power plays.
Regarding the operational management of @MattPrusak & the #Hut8 team, the numbers speak for themselves & we must have some magic electrons at @IonicDigital sites😄. It seems Matt ultimately became a casualty of the auditor's departure & the subsequent negotiations to uphold the board's fiduciary duties & independence.
Guess @ashergenoot just spilled the beans on what happened on @IonicDigital, this is the full segment about #IonicDigital from @McnallieM & @cazenove_uk Interview to @Hut8Corp CEO Asher Genoot. #CelsiusNetwork
source below:
As of today no matter how you slice it #CelsiusMining with 56% gross margins are extremely good.
Most miners have have a lot of debt, warrants & are milking shareholders by doing new offerings. Proof me wrong! @elveton101 @iTzAnthonyNap @SimonDixonTwitt #wulf #mara #clsk #riot
#CelsiusMining Numbers looking good!
1/2 We had a nice end of the year in our mining operations we are with a gross margin of 56%.
If we assume the same margin post halving that's a net cashflow of 114.9M for this year. #CelsiusNetwork #CelsiusMining
Sources below ⬇️
#CelsiusMining Numbers looking good!
1/2 We had a nice end of the year in our mining operations we are with a gross margin of 56%.
If we assume the same margin post halving that's a net cashflow of 114.9M for this year. #CelsiusNetwork #CelsiusMining
Sources below ⬇️
1/2 We had a nice end of the year in our mining operations we are with a gross margin of 56%.
If we assume the same margin post halving that's a net cashflow of 114.9M for this year. #CelsiusNetwork #CelsiusMining
Sources below ⬇️
Lol how can you be taken seriously, 1 company is in ch11 having trouble signing power agreements due to this, their hosting company went bankrupt & they have to move all their rigs out 🤣
At least from March #CelsiusMining should be at full capacity!
Anyways go buy a claim in Cherokee Cherokee so you can spit this stuff without any context first non creditor!
#CelsiusMining now over 50% profitable if the price stays at 25k to 26k they would generate 100M just in profit this year #CelsiusNetwork
#CelsiusMining 40% profitable in February 🤯
By march all rigs should be fully deployed, new hosting agreement for 70k rigs signed replacing core scientific. #CelsiusNetwork
#CelsiusMining 40% profitable in February 🤯
By march all rigs should be fully deployed, new hosting agreement for 70k rigs signed replacing core scientific. #CelsiusNetwork
1/3 #CelsiusNetwork community be careful with non creditors & @RiotPlatforms employees competitors to #CelsiusMining
The issue with people who never used Celsius are in posts like this where they say $Cel had no use cases?! in Celsius you could get cheaper loans with #Cel,.. ⬇️
Here are the main changes in Coins for #CelsiusNetwork Dez 2022:
☑️6000 #Eth
☑️272000 #ADA
The most interesting aspect is that #CelsiusMining appears to be fully built by 3rd of March!
Rigs Online:
51k -> 65k (out of ~110k-120k)
☑️465 Monthly #BTC mined
The latest cash flow forecast and coin report just hit the docket and is available here: https://t.co/FD5wsE01OG
#Celsius Mining as reported by the court was mining at 15.5k with #Btc now @ 22k, it's now making 40% in profit!
#MARA a btc mining company had a marketcap of 544M in Dezember, its now at close to 1B.
Expect the value of #CelsiusMining to have also double!
The Block: The storm has passed, but bitcoin mining difficulty is about to blow through the roof ~ $RIOT $MARA #CelsiusMining #CelsiusReorg $CORZ https://t.co/qXPCRHxTI8
#Celsius Network Time Sales Plans https://t.co/Ce2e3IYfYf #bankrupty #blockchain #celsiusmining #celsiusnetwork #corescientific #crypto #cryptocurrency
Alors que #Celsius annonçait concentrer une partie de son activité dans le minage de #cryptomonnaies, nous apprenons que #CelsiusMining, sa branche de minage ⛏, va vendre 2 700 de ses machines pour un montant qui dépasse 1,3 M de $ 💰
https://t.co/ZDIWFzzYMR
@gluke_legend The 1 that has been ebitda positive since September. With 110k rigs spread between 4 hosting companies and building up a properatiry site, managed by an experienced team not tied to Celsius Lending & the 2nd largest btc mining in the USA? #celsiusnetwork #CelsiusMining
#CelsiusMining
“to summarize..for the millionth time mining is NOT and cannot be profitable at current market prices and conditions. Yes Capex expenses will be reduced; however…not…the mythical reduction”
✍️Keith “at current market prices & conditions” =valid for weeks 😳🤣
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