Celsius Announces Transition to Bitcoin Mining Focus


21 Nov 2023 7:25 PM

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.

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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