Celsius, a cryptocurrency lending platform, has revealed its intention to transform into a new entity with an exclusive emphasis on Bitcoin mining.
This change, disclosed in a recent court filing, represents a departure from its initial reorganization strategy, including a focus on staking.
Celsius Moves Towards Mining-Exclusive Entity
Following feedback from the U.S. Securities and Exchange Commission (SEC) regarding specific aspects of its plan, Celsius announced a shift in its reorganization strategy. Initially planning to focus on mining and staking, the crypto lending platform intends to transition solely into a new company dedicated to Bitcoin mining, as disclosed in a recent court filing.
Celsius is now registering shares for a new publicly traded Bitcoin mining company named ‘Mining NewCo,’ which will be owned by its own customers.
Previously, the reorganization plan had assigned the implementation responsibility to Fahrenheit Holdings, a consortium including Arrington Capi

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