US Bankruptcy Judge Approves Celsius Network's Shift To Bitcoin Mining

According to Foresight News, US Bankruptcy Judge Martin Glenn has approved cryptocurrency lending company Celsius Network's plan to shift to Bitcoin mining. The judge ruled that the company may deviate from its previously approved bankruptcy plan, as the situation for creditors and customers has not worsened under the new restructuring. Martin Glenn stated that more cryptocurrency from Celsius will be returned to customers, who will also receive equity in the new Bitcoin mining business. Celsius is considering setting up a new publicly traded Bitcoin mining company and plans to increase the liquidity of cryptocurrency distributed to account holders after emerging from bankruptcy, which is expected to occur in early 2024. Customers will own shares in Mining NewCo.