Stopping all withdrawals and deposits in mid-June cryptocurrency platform Celsiuscould not stand the difficult conditions of the market any longer and filed for bankruptcy on July 14.
Trying to pay off his debts and trying to get out of the difficult situation he was in, Celsius said a few days ago that he had run out of cash.
Needing liquidity and taking action to raise more money, Celsius Network is in the bankruptcy phase. Bitcoin (BTC) received approval from the US bankruptcy judge to mine and sell it.
While the bankruptcy judge approves, Martin Glenn, the US Attorney General in Manhattan, disagrees with the judge.
Because Celsius will need to make additional investments to get its mining rigs up and running at full capacity, Martin Glenn said. Bitcoin mining He said he was worried it might not be profitable immediately.
However, Glenn stated that he would respect the judge’s decision.
Although Celsius has received court approval for sale, this approval is obtained from Bitcoin mining. bitcoin and this BTCLimited to sale.
In this context, the court did not approve of selling stock or debt investments in other crypto companies until it provides more information about the assets it plans to sell.
According to a file submitted by Celsius, the company has 80,850 bitcoin mining rigs exist, but only half of them work. Celsius stated that as of July 13, the company was mining an average of 14.2 Bitcoins per day.
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