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Celsius is Burning Money but Still Can’t Sell its Mined Bitcoin

Closing out DeFi loans came first, but what seems most convenient now, for Celsius, is its in-house mining business.
Celsius’ bitcoin mining outlookCelsius currently owns 80,850 bitcoin mining rigs but only about half are in operation.
Celsius says it mined 3,114 BTC ($75 million) last year, just a small fraction of its total bitcoin stash.
But Texas regulators don’t want Celsius to go ahead with selling its mined bitcoin.
For Dan Besikof, bankruptcy advisor at law firm Loeb & Loeb, Celsius’ motion to sell its mined bitcoin is vague, which is causing difficulty in getting it passed.

Disclaimer: This story is auto-aggregated & summarized by a computer program and has not been created by TokenAround.


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