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Celsius Approved to Sell Bitmainland Discount Coupons Worth Over $7M

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It is reported that the bankruptcy judge Martin Glenn approved Celsius to sell Bitmainland discount coupons worth more than US $7 million. These assets provide…

Celsius Approved to Sell Bitmainland Discount Coupons Worth Over $7M

It is reported that the bankruptcy judge Martin Glenn approved Celsius to sell Bitmainland discount coupons worth more than US $7 million. These assets provide 10% – 30% discount for the purchase of Bitmainland within a limited period of time, and can be sold to any bona fide third party, subject to the consent of the committee representing Celsius’ unsecured creditors. Glenn’s instructions did not include the request to sell Bitmain points, which were generated when the mining equipment was prepaid, and Celsius estimated that it could raise a further $7 million.

The bankruptcy judge approved Celsius to sell Bitland discount coupons worth more than $7 million

Interpretation of the news:


The message reveals that the bankruptcy judge Martin Glenn has authorized Celsius to sell Bitmainland discount coupons worth more than $7 million. These assets will provide discounts of 10% to 30% on the purchase of Bitmainland within a limited period. It is permitted for these discount coupons to be sold to any third party, but only after the consent of the committee representing Celsius’ unsecured creditors.

Interestingly, the judge’s instructions did not include the sale of Bitmain points which were generated from prepaid mining equipment. Celsius estimates that it can still raise an additional $7 million by selling these points.

This decision is a significant one for Celsius, especially since it has been struggling financially, as it indicates that there is still hope of raising funds through these discount coupons and Bitmain points. The discount coupons would offer cryptocurrency investors exclusive discounts, which may attract new investors to Bitmainland.

Furthermore, this ruling also highlights how important it is for companies to be stringent with their financial planning and management, especially in the volatile cryptocurrency market. Celsius’ financial struggles and reliance on selling discount coupons and prepaid mining equipment showcases how much cryptocurrency businesses must remain diligent when handling finances.

In summary, Celsius has been given the go-ahead to sell Bitmainland discount coupons worth over $7 million for a limited time. The sale of these coupons may potentially draw in new investors. However, the sale of Bitmain points is still pending, and Celsius estimates that they could raise a further $7 million from these assets. This decision underscores the importance of sound financial planning for companies, especially in the constantly shifting cryptocurrency market.

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