Cuentas signs power and colocation deal with Power Upp USA for Texas mining site

Cuentas signed a power-as-a-service and colocation deal with Power Upp USA for a West Texas site in Seminole, Texas.

The service order covers up to 10 container sets at 2.4 MW each, implying up to 24 MW of contracted demand for bitcoin mining.

One-time charges are set at $500,000 per container set for customer-owned ASIC miners, or $5 million if all 10 are deployed. Security deposits are set at $90,000 per container set, or $900,000 if fully deployed.

Ongoing pricing includes a $0.05 per kWh energy charge, 5% of gross mining revenue, a $2,500 monthly fee and an 80% take-or-pay minimum.