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Cuentas, Inc. entered into a Power-as-a-Service and Colocation Services Agreement with Power Upp USA, Inc., to host…
CUENCuentas Inc.
Cuentas, Inc. entered into a Power-as-a-Service and Colocation Services Agreement with Power Upp USA, Inc., to host Bitcoin mining operations in Seminole, Texas. The agreement covers up to ten container sets, each accommodating approximately 420 ASIC miners for a total capacity of roughly 4,200 units. Deployment is staged at one set every 90 days. Financial terms include $500,000 per container set for equipment and a $90,000 security deposit, totaling $5 million and $900,000 respectively if fully deployed. Recurring costs consist of a 5% revenue share plus $2,500 monthly colocation fees and $0.05/kWh energy charges. The company must maintain 80% utilization under take-or-pay terms, with suspension rights triggered if Bitcoin falls below $55,000 for 15 consecutive days. The initial term is 36 months. Cuentas, Inc. operates in the cryptocurrency mining industry.