Celsius Network and its debtors intend to turn the defunct lender into a Bitcoin miner as part of its restructuring, according to a Nov. 20 press release.
Celsius customers will own the new entity, tentatively stated as ‘Mining NewCo.’
Mining NewCo
Celsius had proposed the formation of Fahrenheit NewCo as part of its restructuring and recovery plan, which the court approved on Nov. 9.
However, after receiving regulatory feedback on the plan from the SEC and conducting consultations with the…
