Celsius successfully completes bankruptcy reorganization, establishes mining company, and distributes $3 billion to creditors.

Celsius has announced the formal conclusion of its Chapter 11 bankruptcy reorganization process, successfully recovering funds from the bankruptcy and obtaining support from nearly 98% of account holders and the approval of the New York Southern District Bankruptcy Court on November 9, 2023. The core of the reorganization plan is the distribution of $3 billion in cryptocurrency and fiat currency to creditors, and the creation of a new Bitcoin mining entity, Ionic Digital, guided by Hut 8 Corp for operation.