Celsius Gets Green Light to Sell $7.4 Million Worth of Bitmain Coupons: Judge Approves Request

Following a judge's approval, cryptocurrency lender Celsius is now authorized to sell Bitmain mining firm coupons worth more than $7 million. A New York judge on Thursday authorized Celsius Network to sell coupons for mining company Bitmain, makers of the Antminer range, as the bankrupt crypto lender seeks to maximize value. Debtors for crypto lender Celsius Network have the authority to sell coupons for mining firm Bitmain coupons worth roughly $7.4 million following a ruling from a bankruptcy court.

Christopher Ferraro, interim chief executive officer of Celsius, claimed in a Feb. 9 declaration that the debtors expected to sell the Bitmain coupons for roughly $7.4 million. According to CoinDesk, bankruptcy judge Martin Glenn approved Celsius to sell Bitmain coupons. These coupons can provide a 10%-30% discount on the purchase of Bitmain mining machines.

Following a bankruptcy judge’s ruling, debtors of crypto lender Celsius Network have been granted the power to liquidate $7.4 million worth of Bitmain coupons for mining firm purposes. This move aims to recoup funds during the ongoing bankruptcy proceedings. The sale of these coupons represents a significant step in Celsius's efforts to recover value and repay creditors. According to a New York judge on Thursday authorized Celsius Network to sell coupons for mining company Bitmain, makers of the Antminer range, as the bankrupt crypto lender.