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Celsius Network’s mining arm plans public listing

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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

Fast facts

  • 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