Celsius Network got allowance to mine and sell cryptocurrency despite the bankruptcy process

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Elena Klimovich

17:27 18/08/2022

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Celsius Network got allowance to mine and sell cryptocurrency despite the bankruptcy process

Celsius Network is into the bankruptcy process and is allowed to mine and sell cryptocurrency. Earlier the company admitted that such action is very important during the optimisation and restructuring processes. Moreover, Celsius was ready to invest about $5.2 millions in mining equipment.

 The first phase of mining councernes losses. The same information was announced even by the company's lawyer. But he admitted that after selling bitcoins Celsius can show profit in its report.

The Ministry of Justice was against such permission and expenses. But after reserving information that BTC will sell for the cash all objections were dropped. However the company doesn’t have an allowance to sell shares or debt obligations without the court permission.


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