The mining subsidiary of crypto lending platform Celsius Network, Celsius Mining, announced it has filed paperwork with the U.S.SEC suggesting plans for an IPO.
Celsius has filed a Form S-1 with the SEC, which is required before a company can go public in the United States at Nasdaq or New York Stock Exchange. The SEC might take upto six months to approve an IPO after the S-1 is filed.
About 1.7 million users use the Celsius platform, with over $16.9 billion in assets at the time of writing. The company was the first to manage more than $20 billion in assets in both decentralized and centralized finance.
In 2020, Celsius Network entered the mining industry, giving loans and equipment leases to mining companies such as Core Scientific and Argo Blockchain to fund expansion plans.
Celsius Mining recently announced a co-hosting agreement with bitcoin miner Mawson Infrastructure, which is publicly traded on the Nasdaq.
Even though it’s a time consuming process, a lot of companies pursue an IPO for growth and expansion. Last month Aura FAT Projects Acquisition Corp announced the successful close of its IPO on Nasdaq. The company also raised $115 million in funds after finishing an over-allotment round.
