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Celsius entity to focus only on mining under proposed reorganization plan

Published 11/21/2023, 10:03 AM
Updated 11/21/2023, 12:20 PM

Cryptocurrency lending firm Celsius said its reorganized company will focus only on Bitcoin mining following feedback from the United States Securities and Exchange Commission (SEC).

In a Nov. 20 announcement, Celsius said the core business of the ‘NewCo’ company proposed under its restructuring plan will be Bitcoin (BTC) mining rather than staking. The firm said it had reached the decision to focus its efforts on mining “based on the SEC’s feedback [and] in consultation with the Official Committee of Unsecured Creditors.”

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