Celsius Mining entered into a Jan. 7 sales agreement to sell 2,687  Bitcoin mining rigs for $1.34 million to Touzi Capital , according to a Jan. 11 court filing.

The mining rigs are “MicroBT ASIC M30S” located in Houston, Texas, with a hashrate ranginf between 84TH/s to 92TH/s.

Celsius Mining said it held discussions with several brokers and market participants and determined that Touzi Capital’s offer was the best.

The mining firm said the proceeds from the rig’s sales would be used for general and corporate expenses.

Meanwhile, the sales are still subject to the De Minimis asset sale order.

Previously, Bitcoin (BTC) miner Core Scientific got a Jan. 4 court approval to shut down Celsius Mining’s 37,000 mining machines.

Creditor objects to sales

Meanwhile, a Celsius creditor, Víctor Ubierna de las Heras, objected to the sale of mining rigs on the basis that the debtors did not specify how they will use the proceeds from the sales.

De las Heras added that the intended use of the proceeds should be clearly defined before the sale can proceed.

He also questioned whether the sale was in the estate’s best interest considering the debtor previously said Celsius Mining was cash-flow positive and generating income.

Heras said:

The creditor highlighted that Celsius also wanted to sell the mining machines at a 73% discount, which is inconsistent with the assets’ fair market value.

Posted In: Bankruptcy, Mining