Celsius to limit scope of new company to mining assets

Celsius Network, the crypto company that won court approval this month to end its year-long bankruptcy, said it plans to reduce the scope of its surviving operations following its discussions with the Securities and Exchange Commission.

The revised restructuring plan will create a new company focused on Celsius’ Bitcoin mining operations, the company said in a statement released Monday. Celsius said it made the changes after consulting with the securities regulator and is now awaiting approval from the SEC before the new company can execute its plan.