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Celsius Network Shifts to Bitcoin Mining
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Celsius Network, a cryptocurrency lender, has secured court approval for a strategic shift to bitcoin mining as part of a bankruptcy plan. This move is expected to provide $225 million in cryptocurrency assets for the new mining business and enable the return of more cryptocurrency to customers. The restructuring also involves the issuance of equity shares in the new bitcoin mining business.
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How could this strategic move influence the reputation and trust of Celsius Network within the cryptocurrency community?
How might this shift impact the cryptocurrency market and the competitiveness of existing mining companies?
What measures should be put in place to ensure the credibility and transparency of the new bitcoin mining business?
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