CoinVoice has learned the latest: According to Reuters, U.S. bankruptcy judge Martin Glenn approved the plan of cryptocurrency lending company Celsius Network to switch to Bitcoin mining, ruling that the company may deviate from the previously approved bankruptcy plan because the situation of creditors and customers has not become worse under the new reorganization. Martin Glenn said that more cryptocurrencies from Celsius will be returned to customers, and customers will also receive equity in the new Bitcoin mining business.
Celsius said it is considering forming a new publicly traded bitcoin mining company and will increase the liquid cryptocurrency distributed to account holders after Celsius emerges from bankruptcy, which is expected to happen in early 2024. Customers will own shares in Mining NewCo.
