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Celsius Network Files Draft S-1 Form to Take Its Mining Unit Public
The filing is expected to become effective after the SEC completes its review process, subject to market and other conditions.
By Aoyon Ashraf
Updated May 11, 2023, 4:17 p.m. Published May 16, 2022, 3:26 p.m.
Crypto lender Celsius Network said its mining unit has recently filed a confidential S-1 draft registration with the U.S. Securities and Exchange Commission (SEC).
- Without disclosing specifics, the unit, Celsius Mining, said its registration statement is expected to become effective after the SEC completes its review process, subject to market and other conditions, according to a statement.
- The filing comes at a time when crypto-linked stocks have been tumbling along with broader equity markets. Investors have hit the sell button on almost all asset classes amid surging inflation, recessionary fears and geopolitical unrest.
- Celsius Mining has been active in the mining industry via investing and lending as well as helping host the miners to which it lends. Most recently, bitcoin miner Mawson (MIGI) signed a 100-megawatt co-location and $20 million debt deal with Celsius Mining.
- Last year Celsius Mining said it invested a total of $500 million for its bitcoin mining operations in North America.
Read more: Crypto Lender Celsius Says Its CEL Token Faces ‘Regulatory Risks’
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