Celsius Plans Transition to Mining NewCo After Bankruptcy Exit

Celsius Network plans transition to mining-only new company, which requires approval from the US bankruptcy court for the Southern District of New York, according to a press statement

• Co. to apply to register the shares in a new publicly traded Bitcoin mining company, that will be owned by Celsius customers
• Co. is in discussions with certain parties regarding the terms and conditions of the future management of Mining NewCo
• Intends to file a motion with bankruptcy court to approve modifications to chapter 11 plan
• Still expects distributions to creditors to commence in January
• NOTE: Earlier this month, Failed Crypto Lender ...