Celsius Mining files for IPO

by in Cryptocurrency News

Celsius Mining

Mining company Celsius Mining, a subsidiary of the crypto-lending platform Celsius Network, has confidentially filed an S-1 application with the US Securities and Exchange Commission (SEC) for an IPO.

"The registration statement is expected to become effective after the SEC completes its review process, subject to market and other conditions," the press release said. Placement options are not disclosed.

In June 2021, the crypto lending platform announced that it was investing more than $200 million in bitcoin mining in North America. In November, Celsius Network CEO Alex Mashinsky announced the allocation of an additional $300 million for these purposes.

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The company previously raised $400 million at a $3 billion valuation after claims from regulators in the sale of unregistered securities. The charges were filed by the states of Texas, New Jersey, Alabama, and Kentucky.

In May 2022, the media reported that Celsius withdrew approximately $500 million worth of assets from the Anchor protocol amid the collapse of the algorithmic stablecoin UST.