Celsius Network's crypto mining subsidiary SEC filing suggests plans for IPO
The SEC requires companies in the United States to file an S-1 registration for shares to be listed on a national exchange, like the Nasdaq or New York Stock Exchange. Celsius Mining, the mining subsidiary of crypto lending platform Celsius Network, has filed paperwork with the United States Securities and Exchange Commission, or SEC, suggesting plans for an initial public offering (IPO).In a Monday announcement, Celsius said its mining subsidiary had filed a Form S-1 draft registration statement with the SEC, suggesting the firm may be planning an initial public offering. The SEC requires....
Related News
In a recent development, the Bankrupt crypto lending firm Celsius Network has transferred its crypto holdings amid its ongoing legal battles and plans to repay its customers. Celsius Network Transfers $30 Million Worth Of Crypto In a post shared on his X (formerly Twitter) platform, software engineer Cam Crews confirmed that Celsius had transferred around […]
Celsius Network has seen months of turmoil as the company halted operations, was hit with lawsuits and filed for bankruptcy in the United States. Now, its CEO and founder Alex Mashinsky submitted his letter of resignation, according to a press release. Related Reading: Celsius Network Investment Results In $150M Loss For Canadian Fund Giant The […]
Core Scientific claims to be losing approximately $53,000 per day to cover the increased electricity tariffs that Celsius refuses to pay. Crypto lender Celsius Network's legal journey has gained another chapter as Bitcoin (BTC) miner Core Scientific accused the company of refusing to pay its bills since filing for Chapter 11 bankruptcy, according to court papers filed on Oct. 19. Core Scientific, which is one of the largest publicly traded crypto companies, claims the default on payments is threatening its financial stability, already hurt by crypto winter and high energy costs. In the....
The mining firm has cited the low price of Bitcoin, electricity costs, an increase in the BTC hash rate, and litigation with Celsius playing a role in its financial difficulties. Bitcoin mining firm Core Scientific is reportedly considering a potential bankruptcy amid a group of its convertible bondholders consulting restructuring lawyers.According to a Nov. 1 report from Bloomberg Law, the Core Scientific bondholders worked with legal firm Paul Hastings following a United States Securities and Exchange Commission filing suggesting financial distress. The Oct. 26 filing indicated that the....
Celsius Network has been heading down a slippery slope since it filed for bankruptcy in July. Embattled crypto lender Celsius Network is on track to run out of money by October, according to the firm’s latest Chapter 11 documents.Filed on Aug. 14 to the U.S. Bankruptcy Court of the Southern District of New York, Celsius highlighted that it is expected to reach negative liquidity by October 2022 to approximately $34 million. The lending platform, which held the trust of many across the world with life savings and retirement funds, was revealed to be in a much worse financial position than....