Celsius Mining Files for IPO

Mining company Celsius Mining, a subsidiary of the crypto-lending platform Celsius Network, in a confidential manner направила a Form S-1 filing with the U.S. Securities and Exchange Commission (SEC) for an IPO.

“It is expected that the registration statement will become effective after the SEC completes its review, depending on market and other conditions,” the press release said.

The terms of the offering were not disclosed.

In June 2021, the crypto-lending platform announced an investment of more than $200 million in Bitcoin mining in North America. In November, Celsius Network CEO Alex Mashinsky said that an additional $300 million would be allocated for these purposes.

Earlier, the company raised $400 million at a $3 billion valuation after regulator complaints. The authorities of the states Texas, New Jersey, Alabama and Kentucky alleged the sale of unregistered securities.

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

In April, shares of mining companies fell significantly more than Bitcoin, according to ForkLog’s report.

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