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Celsius Announces Transition to Bitcoin Mining Focus

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. 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. Celsius is now registering shares for a new publicly traded Bitcoin mining company named ‘Mining NewCo,’ which will be owned by its own customers. The plan aimed to establish a new company, provisionally named NewCo.

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