Celsius entity to focus only on mining under proposed reorganization plan By Cointelegraph

Cryptocurrency lending firm Celsius said its reorganized company will focus only on mining following feedback from the United States Securities and Exchange Commission (SEC).

In a Nov. 20 announcement, Celsius said the core business of the ‘NewCo’ company proposed under its restructuring plan will be Bitcoin (BTC) mining rather than staking. The firm said it had reached the decision to focus its efforts on mining “based on the SEC’s feedback [and] in consultation with the Official Committee of Unsecured Creditors.”