Celsius has been approved by a U.S. judge to pivot to Bitcoin mining

ChainCatcher news, according to Reuters, U.S. bankruptcy judge Martin Glenn has approved the cryptocurrency lending company Celsius Network's plan to pivot to Bitcoin mining, ruling that the company may deviate from the previously approved bankruptcy plan, as the situation for creditors and customers has not worsened under the new restructuring. Martin Glenn stated that more cryptocurrency from Celsius will be returned to customers, who will also receive equity in the new Bitcoin mining business.

Celsius indicated that it is considering establishing a new publicly traded Bitcoin mining company and will increase the liquidity of cryptocurrency allocated to account holders after Celsius emerges from bankruptcy (expected to occur in early 2024). Customers will own shares in Mining NewCo.