Celsius Attracts 30 Potential Bidders For Its Retail Platform And Mining Business

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Alex Mashinsky; Photo Source: Forbes
Celsius’ presentation stated, “Since September 2022, the Debtors, with the support of their advisors, have been conducting a marketing process for the Debtors’ retail platform and mining business.“

Celsius provided an update on its ongoing business processes and disclosed that it has received multiple bids for its assets ahead of its auction process.

In a recent presentation, Celsius noted that over 125 parties have tried to contact the firm. The bankrupt crypto lender added that it has signed non-disclosure agreements with 30 of these bidders.

Celsius’ bidders have suggested several structures to purchase its assets. These include migrating its clients to the acquirer's platform and paying them a percentage of Celsius’ assets.

The firm’s advisors have also not decided whether they will auction off the company as a whole or in parts. Celsius noted that its advisors may choose a different restructuring plan altogether.

Celsius also reported that its crypto holdings were valued at $2.63B as of November 25. These include over $1B in Ethereum (ETH) and Staked Ether (stETH), with the remaining $630M in Bitcoin (BTC) and Wrapped Bitcoin (wBTC). The firm aims to have baseline liquidity of $95M by the end of 2022.

Celsius claimed that the proceeds from the sale of GK8 and its stablecoin holdings will extend its runway through May 2023.



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The bankrupt lender also revealed that its mining ventures witnessed positive outflow every month despite the bearish crypto market. Celsius has also deployed mining rigs at 3 proprietary sites since September 2022, with plans to establish a fourth mining site by January 2023.

Meanwhile, Celsius recently postponed the deadline for its sale process. The auction for Celsius’ retail assets is currently scheduled for January 10, 2023.

Written by
Ayush Pande
Celsius’ presentation stated, “Since September 2022, the Debtors, with the support of their advisors, have been conducting a marketing process for the Debtors’ retail platform and mining business.“

Celsius provided an update on its ongoing business processes and disclosed that it has received multiple bids for its assets ahead of its auction process.

In a recent presentation, Celsius noted that over 125 parties have tried to contact the firm. The bankrupt crypto lender added that it has signed non-disclosure agreements with 30 of these bidders.

Celsius’ bidders have suggested several structures to purchase its assets. These include migrating its clients to the acquirer's platform and paying them a percentage of Celsius’ assets.

The firm’s advisors have also not decided whether they will auction off the company as a whole or in parts. Celsius noted that its advisors may choose a different restructuring plan altogether.

Celsius also reported that its crypto holdings were valued at $2.63B as of November 25. These include over $1B in Ethereum (ETH) and Staked Ether (stETH), with the remaining $630M in Bitcoin (BTC) and Wrapped Bitcoin (wBTC). The firm aims to have baseline liquidity of $95M by the end of 2022.

Celsius claimed that the proceeds from the sale of GK8 and its stablecoin holdings will extend its runway through May 2023.



Get Our Free Newsletter

Subscribe to our newsletter to get tips, our favorite services, and the best deals on Bitcompare-approved picks sent to your inbox


The bankrupt lender also revealed that its mining ventures witnessed positive outflow every month despite the bearish crypto market. Celsius has also deployed mining rigs at 3 proprietary sites since September 2022, with plans to establish a fourth mining site by January 2023.

Meanwhile, Celsius recently postponed the deadline for its sale process. The auction for Celsius’ retail assets is currently scheduled for January 10, 2023.

Written by
Ayush Pande