Judge Approves Celsius Network's Shift to Bitcoin Mining Company

Celsius Network, the embattled cryptocurrency lender, has received court approval for a revised bankruptcy exit plan. This new strategy pivots from its initial arrangement with the Fahrenheit consortium, focusing instead on establishing a standalone Bitcoin mining enterprise. The decision, sanctioned by Judge Martin Glenn on December 27, follows the United States Securities and Exchange Commission’s (SEC) rejection of the earlier proposed deal involving the creation of NewCo, a diverse business entity managed by the Fahrenheit consortium.