Celsius Mining, a Bitcoin mining unit of cryptocurrency lender Celsius Network, is planning to go public, as the company doubles down on its mining business.
See related article: SEC scrutinizing crypto lending by Celsius, Gemini, Voyager: reports
Celsius Mining said on Monday that it filed a Form S-1 draft registration with the U.S. Securities and Exchange Commission (SEC).
“The registration statement is expected to become effective after the SEC completes its review process, subject to market and other conditions,” the company said.
The crypto firm’s move comes as it looks to fuel its mining business, with US$500 million investment announced in November to expand Bitcoin mining operations in North America.
Celsius Network has come under increasing regulatory pressure, as the SEC started scrutinizing crypto firms’ practice of paying interest on crypto token deposits earlier this year.
The company in April banned non-accredited and new investors from earning interest in its platform.
See related article: Bitcoin miner Griid set to go public via Adit EdTech merger