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News Explorer — Celsius to Transition to Crypto Mining Firm, Abandon Staking Plans

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Nov 21, 7:55 am

Coindesk

Celsius to Transition to Crypto Mining Firm, Abandon Staking Plans

Celsius will transition to a new company focused on mining Bitcoin, shifting away from a reorganization plan that included crypto staking. Celsius intends to register shares in a new publicly traded Bitcoin mining company, called Mining NewCo, following feedback from the SEC. Certain assets that were supposed to be transferred to Fahrenheit Holdings will now be retained by Celsius's estates for regulatory reasons.

Celsius will transition to a new company focused on mining Bitcoin, shifting away from a reorganization plan that included crypto staking. Celsius intends to register shares in a new publicly traded Bitcoin mining company, called Mining NewCo, following feedback from the SEC. Certain assets that were supposed to be transferred to Fahrenheit Holdings will now be retained by Celsius's estates for regulatory reasons.

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