Cuentas Enters Large-Scale Bitcoin Mining Infrastructure Deal in West Texas

Cuentas, Inc., a company that hasn't previously disclosed its involvement in large-scale Bitcoin mining infrastructure, has entered into a significant power and colocation agreement with Power Upp USA, Inc. in West Texas.

The deal involves a 24 MW power supply and onsite hosting for up to ten container sets, each housing approximately 420 ASIC miners. If all ten sets are deployed, the total contracted demand will reach 24 megawatts.

According to the agreement, Cuentas will pay an initial one-time charge of $5 million across a full deployment, broken down into $500,000 per container set for the miners and $90,000 in security deposits per set. Additionally, there will be recurring charges based on 5% of gross mining revenues attributable to each set, plus $2,500 monthly.

The agreement includes a material contract feature: Cuentas must maintain at least 80% utilization of contracted demand for each deployed container set. In the event of a shortfall, the company will still owe energy costs on the take-or-pay quantity.