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Celsius provides court update on withdrawal process and mining operations

• Metaverse Matters • 137 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

Celsius provides court update on withdrawal process and mining operations

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:


The message from Celsius on Twitter provides an update on the company’s withdrawal process for eligible users and its mining operations. According to the report, since the re-opening of withdrawals on March 2, the company has processed approximately $21.2 million of completed and pending withdrawals. This suggests that the company is working to ensure that its users can easily access their funds.

The report also notes that due to the rise in the price of Bitcoin, Celsius has increased its gross profit rate and deployed more mining machines since January. This is likely a response to the increased demand for cryptocurrency trading and mining in recent months.

Additionally, the court has approved Celsius’ motion to extend the franchise to the end of March, allowing the company to continue working closely with stakeholders and NovaWulf to complete its plan. This suggests that the company is committed to ensuring that its operations are transparent and compliant with regulatory requirements.

Overall, this message suggests that Celsius is making progress in its efforts to provide its users with reliable and efficient withdrawal processes while also looking to expand its mining operations. The company’s focus on maintaining compliance with regulatory requirements is also a positive sign for users and investors alike.

Title: Celsius working to improve withdrawal process and increase mining operations

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