Celsius Announces Transition to Bitcoin Mining Focus
Celsius shifts focus to Bitcoin mining, following SEC feedback in updated bankruptcy plan....
- Celsius, a cryptocurrency lending platform, plans to shift its focus to Bitcoin mining.
- This change comes after feedback from the SEC regarding its reorganization strategy.
- Celsius will register shares for a new publicly traded Bitcoin mining company called 'Mining NewCo.'
- Previously, the plan involved a consortium called Fahrenheit Holdings, but now Celsius will retain certain assets.
- Distributions to creditors are expected to begin in January 2024.
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The sentiment of the article is neutral. It provides information about Celsius' shift in focus and the changes in its reorganization strategy.
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