Amid the ups and downs of digital currencies, Celsius has ushered in an unprecedented transformation. With the approval of the court, this well-known cryptocurrency lending platform will transform into a Bitcoin mining company! The news that CEL tokens will be converted into equity of the new company has attracted widespread attention and heated discussions in the industry.

In this long article, we will explore the background, impact and future direction of this major event from multiple angles, and present you with a comprehensive interpretation of Celsius.

Celsius: From a lending platform to a Bitcoin mining company

Founded in 2017, Celsius, as a well-known cryptocurrency lending platform, has been committed to providing efficient and flexible lending and deposit services to users around the world. Its token CEL has always been highly sought after by the market, not only performing well on exchanges, but also being the first choice of many coin holders.

However, with the continued appreciation of cryptocurrencies such as Bitcoin, Celsius decided to seize this historic opportunity and shift its business focus to Bitcoin mining. This transformation means that Celsius will directly participate in the Bitcoin ecosystem, extending from the lending market to the mining field, bringing new development opportunities and challenges to the company.

Court Approval: Transformation Path Recognized

Celsius' transformation was not achieved overnight. After months of application and review, it was finally approved by the court, which undoubtedly laid a solid legal foundation for the company's future development. The court's approval means that Celsius's transformation measures are legal and compliant, and will bring more cooperation opportunities and investment capital to the company.

The decision approved by the court has also sparked heated discussions in the industry. Many experts said that Celsius's transformation measures will drive the entire cryptocurrency industry forward and open up a new path for future development. This also heralds the potential and prospects of the Bitcoin mining industry, providing investors with more choices and possibilities.

CEL token conversion to new company equity: opportunities and challenges for investors

With the conversion of Celsius tokens CEL to new company equity, investors are facing new opportunities and challenges. On the one hand, investors holding CEL will become shareholders of the new company and share the company's future growth and profits; on the other hand, they also need to pay attention to the company's operating conditions and development prospects and make wise investment decisions.

This conversion also triggered market fluctuations and reactions. For a time, the price and trading volume of CEL tokens fluctuated significantly. However, with the gradual stabilization of the market and rational thinking of investors, it is believed that CEL tokens will usher in new growth and opportunities.

Future Outlook: Celsius's Bitcoin Mining Road

Celsius's transformation into a Bitcoin mining company marks a new starting point, and the road ahead is full of challenges and opportunities. As a well-known cryptocurrency platform, Celsius will continue to uphold the mission of "letting everyone benefit from cryptocurrency", constantly explore innovation, and promote the development and progress of the industry.

In the Bitcoin boom, Celsius will strive to expand its mining business and enhance the company's core competitiveness and market position. At the same time, the company will continue to focus on user experience, ensure the security of user assets, and provide users with more convenient and secure services.

Conclusion

Celsius's transformation into a Bitcoin mining company is a milestone event that will bring new changes and opportunities to the entire cryptocurrency industry. With the continuous evolution of the market and the continuous advancement of technology, I believe that Celsius will go further and further on the road ahead and create more value and opportunities for users and investors.

Let us look forward to Celsius's wonderful performance in the field of Bitcoin mining, and I believe that the future will be even better!

The four most famous international exchanges:

Binance INTL	OKX INTL	Gate.io INTL	Huobi INTL
China Line　APP DL	China Line　APP DL	China Line　APP DL	China Line　APP DL

Note: The above exchange logo is the official website registration link, and the text is the APP download link.

Coin Circle (120BTC.coM): According to Bloomberg, Celsius, a cryptocurrency loan company, has been approved by the bankruptcy court and plans to transform into a bitcoin mining company owned by creditors, but it still needs the approval of the SEC. Celsius also plans to start distributing assets early next year.

Transformed into a mining company, CEL converted into equity of the new company

Celsius has undergone a trial lasting several weeks. In the future, CEL will be used to distribute digital assets to creditors, as well as shares of the new bitcoin mining company.

Individual customers have questioned the company's new management team and expressed disappointment with the company's bankruptcy plan and costs. Customers believe that the plan greatly underestimates the value of CEL tokens.

When Celsius filed for bankruptcy in July 2022, CEL was basically worthless (about $0.8), so it was questioned by customers that using CEL as part of the company's debt or even equity greatly underestimated the cost of their original holdings. After all, in the bull market, CEL reached a high of $8.

In addition to Celsius's plan to get out of bankruptcy and transform into a Bitcoin mining company, Celsius' lawyers also said that it may start distributing assets early next year.

The proposal to transform into a cryptocurrency mining company still needs to be approved by the U.S. Securities and Exchange Commission (SEC). If the proposal fails, Celsius may turn to liquidation again. So Judge Glenn also urged the SEC to act quickly.

In addition, Judge Glenn also said that Celsius' bankruptcy plan did not require him to make a ruling on whether CEL constitutes a security, because this is a thorny legal issue with broader implications for the way the U.S. crypto industry is regulated.

Debt-for-equity swap case

In traditional finance, there are also precedents for debt-for-equity swaps. American automakers General Motors and Chrysler both filed for bankruptcy protection in 2009, and creditors agreed to convert their debts into newly issued common stock, and finally successfully listed again.

This debt-for-equity swap, also known as a debt-for-equity swap, allows creditors to convert their debts into newly issued equity to obtain ownership of the company.

Before FTX went bankrupt, its founder SBF also proposed the idea of converting FTT into equity tokens.