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.
May 16, 2022 at 3:26 p.m. UTCUpdated May 11, 2023 at 4:17 p.m. UTC
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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 (BTC) 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.
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Aoyon Ashraf is managing editor with more than a decade of experience in covering equity markets