Celsius Says Bitcoin Mining Key to Restructuring Efforts, Repaying Debts

Celsius Network stated that bitcoin mining is the key to the cryptocurrency lender’s restructuring efforts as it received approval from a U.S. bankruptcy judge to spend $3.7 million in construction costs at a new bitcoin mining facility.

Celsius’ hearing was conducted at a U.S. bankruptcy court where U.S. Bankruptcy Judge Martin Glenn also approved $1.5 million on customs and duties on imported bitcoin mining rigs for Celsius.
The crypto lender’s lawyer for the hearing, Patrick Nash, made a statement to Glenn saying that bitcoin mining could provide a gateway to repay customers whose assets were frozen prior to the …

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