The CEO of Celsius, Alex Mashinsky, wants people to earn BTC without working so hard.
The CEO has said that those who invested in Celsius will get part of the gains realized from the mining infrastructure which the company spent $200 million to acquire.
Mashinsky revealed that with the latest spending, the company now has five avenues to earn from and that depositors won’t be left out.
The news about the mining infrastructure first came last month when it announced that $200 million was earmarked for mining equipment from North Korea. Part of the money was also used to get stakes in some other flourishing establishments.
The CEO understands that one way to make his investors happy is to derive a means of supplying them Bitcoins without working extra for it; this is why the company decided to invest in a mining infrastructure. He said:
“By creating a mining business we are guaranteeing that we can pay our community what we owe them, which is interest in Bitcoin.”
Celsius came on board four years ago when it offered to reward every investor for their deposits. At the time it started, there were stablecoins, Bitcoin, Ethereum, and more than 37 other digital assets.
Celsius is happy to do this at a time when BTC enthusiasts are deriving less income compared to their DeFi counterparts. Investing in Celsius requires no payment of management fees although the company cuts a minimum of 20% before sending the rest to the investor.
Celsius is not the only one benefiting from North Korea’s mining infrastructure. With the displacement of many miners from China and their relocation to North Korea, the country is growing to be the new solution for mining needs.
The CEO explained that the recent development in China can be linked to the country’s upcoming CBDC.
Mashinsky also believes the ban of miners in China is a blessing in disguise in the sense that many of them will now find refuge in different places thereby making Bitcoin more decentralized.
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