The post Celsius scraps Fahrenheit consortium, gets court approval for Bitcoin mining company appeared on BitcoinEthereumNews.com.

According to bankruptcy Judge Martin Glenn, the deviation from the previously approved plan is permissible since creditors will not be adversely affected. Update (Dec. 29 and 4:28 pm UTC): This article has been updated to include information regarding Hut 8’s management of MiningCo. Celsius Network has been approved for a second exit route from bankruptcy, moving away from a deal with Fahrenheit consortium for a solely Bitcoin mining company.  According to court filings on Dec. 27, Judge Martin Glenn granted permission to proceed with a second alternative previously approved by Celsius’ creditors, which involves the creation of a public company dedicated solely to Bitcoin mining instead of a company with multiple lines of business managed by the Fahrenheit consortium. Read more Source: https://cointelegraph.com/news/celsius-scraps-fahrenheit-consortium-gets-court-approval-bitcoin-mining-company

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Filed under: News - @ December 29, 2023 6:14 pm