Will Celsius sell $14.4 million in Bitcoin coupons & credits?

In another attempt to collect funds to repay creditors, the now-bankrupt crypto lender Celsius is now looking to sell $14.4 million in coupons and credits for Bitcoin mining company Bitmain.

How much bitcoin does Celsius mining make a day?

As of its bankruptcy filing on July 13, the company’s Celsius Mining unit owned 43,623 operational rigs, generating around 14.2 bitcoin – about $339,919 at the current price – a day. That bitcoin was sold to fund business operations and pay off an intercompany loan to parent Celsius Network.

How much are Celsius vouchers worth?

Celsius’ vouchers have a combined face value of over $48 million. The company reckons it can sell the coupons for $7.4 million and credits for $7 millionon secondary markets, according to a statement by interim CEO Christopher Ferraro.

How will Celsius's bankruptcy affect bitcoins?

Celsius amended its proposal to specify that proceeds of sales of bitcoins generated by its mining rigs will be kept separate from the company’s cash management system, satisfying the creditors, many of whom are individual investors whose assets are tied up in the bankruptcy.