Celsius Network gets green light to start Bitcoin mining operation

NEW YORK - Celsius Network, a cryptocurrency lending platform, has received court approval to operate a Bitcoin mining operation as part of its revaluation efforts. The decision approved by Judge Glenn aims to protect the interests of creditors amid the volatile Bitcoin markets observed due November-December 2023.

The court mandate allows Celsius Network to abandon its previous agreement with the Fahrenheit consortium. This development aims to make Bitcoin represents an alternative way for the company to create value for its creditors. This move comes in response to significant challenges for the crypto industry in recent months, resulting in fluctuations in Bitcoin's market prices.
NEW YORK - Celsius Network, a cryptocurrency lending platform, has received court approval to operate a Bitcoin mining operation as part of its revaluation efforts. The decision approved by Judge Glenn aims to protect the interests of creditors amid the volatile Bitcoin markets observed due November-December 2023.



The court mandate allows Celsius Network to abandon its previous agreement with the Fahrenheit consortium. This development aims to make Bitcoin represents an alternative way for the company to create value for its creditors. This move comes in response to significant challenges for the crypto industry in recent months, resulting in fluctuations in Bitcoin's market prices.