BTC Price Index and Live Chart – CoinDesk”>(BTC) mining company, is buying bankrupt lender Celsius’ mining assets and aiming to become one of the top miners in North America.

Ionic will purchase all of Celsius’s mining assets in the emergence of bankrupt lenderfrom Chapter 11. Ionic will acquire all of Celsius’ mining assets as part of the emergence of the bankrupt lender from Chapter 11.

Ionic currently has 6 exahash/s of mining power and is expecting to reach 12.7 exahash/s once the fleets are fully functional within this year.

According to a statement sent by Ionic, the new company plans to list in the next few months. It filed form-10 on Jan. 26, a step toward the listing. The new company’s equity will be held by its shareholders in the form common stock.

Ionic is not the only mining company that wants to go public ahead of this year’s bitcoin halving, where mining rewards will be cut in half. Swan Bitcoin , a bitcoin financial services company, recently announced its newly formed mining unit is expected to go public in the next year.

Ionic stated that “Our team has the flexibility and financial backing necessary to compete in the mining industry.”

Hut 8 will provide mining services to the new company in trade, for a fee exceeding $20 million annually.

Matt Prusak will be CEO of Ionic. He was previously the chief commercial officer at Hut 8 and USBTC. Asher Genoot will serve as the president of Hut 8 and on the board directors of Ionic.

Ionic Digital, with its seasoned leadership, strategic vision and substantial mining fleet, managed by Hut 8 in partnership, is poised to become a leader among bitcoin miners, said Prusak.

Oliver Knight is the editor.