Celsius Provides Update on Withdrawals and Mining Operations

03/09/2023 05:04 • Digital Disruptors • 97 views

as report goes, Celsius said on Twitter: “Today, Celsius provided the court with a brief update of our withdrawal process for some eligible users and our mining business. Since the re-opening of withdrawals for some eligible escrow account users on March 2, Celsius has processed approximately $21.2 million of completed and pending withdrawals. Due to the rise in the price of Bitcoin, we have also increased the gross profit rate and increased the number of mining machines deployed since January. Today The court approved our motion to extend the franchise to the end of March. We will continue to work closely with all stakeholders and NovaWulf to complete the rest of our plan. “

Since March 2, Celsius has processed approximately $21.2 million of withdrawals from custody accounts

Analysis based on this information:

Celsius, a cryptocurrency lending and borrowing platform, recently provided an update on the withdrawal process for some eligible users and their mining business. In a tweet, Celsius stated that they have processed approximately $21.2 million of completed and pending withdrawals since the re-opening of withdrawals for some eligible escrow account users on March 2. This update comes after Celsius was sued in February by NovaWulf, a crypto mining firm, for allegedly breaching a contract by halting mining operations.

Celsius has been working to resolve the withdrawal issue and resume mining operations, and their recent update indicates that progress is being made. The increase in the value of Bitcoin has also positively impacted Celsius, as they have been able to increase their gross profit rate and deploy additional mining machines since January.

Additionally, the court approved Celsius’ motion to extend the franchise to the end of March, allowing them more time to work closely with all stakeholders and NovaWulf to complete the rest of their plan.

Overall, Celsius’ update provides insight into the progress being made to resolve their withdrawal and mining issues, as well as the positive impact of the rising value of Bitcoin on their business. As cryptocurrency continues to grow in popularity and adoption, cases such as this highlight the importance of companies maintaining clear communication and actively working to resolve issues in a timely and transparent manner.

This article and pictures are from the Internet and do not represent aiwaka's position. If you infringe, please contact us to delete:https://www.aiwaka.com/2023/03/09/celsius-provides-update-on-withdrawals-and-mining-operations/

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.

Celsius Provides Update on Withdrawals and Mining Operations

Since March 2, Celsius has processed approximately $21.2 million of withdrawals from custody accounts

Recommended articles