Celsius je odobril dostop do rudarjenih bitcoinov za kritje operativnih stroškov

A bankruptcy court judge approved Celsius’s plans to sell bitcoin it’s mined to fund its operations, despite considerable opposition from the US Trustee appointed to the case.

Parties in crypto lender Celsius’s bankruptcy proceedings met again today to settle a number of matters related to the firm’s operations as it faces a possible reorganization. Most of those motions were uncontested and swiftly granted by Judge Martin Glenn, chief judge of the US Bankruptcy Court for the Southern District of New York. This included the ability to pay certain critical vendors, taxes and fees, utilities related to business operations, insurance fees, and of course, legal counsel. 

Some however, faced more scrutiny. The firm’s Bitcoin Sale Motion faced significant pushback from the US Trustee, Shara Cornell. Before it was forced to enter Chapter 11 proceedings last month, the firm had plans to razširiti nadalje v rudarsko sfero. Operacija trenutno ustvari približno 14.2 BTC na dan, glede na sodne vloge. 

Previously, it used mined bitcoin, which totaled 3,114BTC in 2021, to cover expenses. This included expenses related to its mining expansion, which has become a considerable cost and point of contention in the proceedings. During the proceedings’ prvi dan obravnave prejšnji mesec je več vmesnih predlogov vključevalo rezervacije za stroške, povezane z rudarskim objektom, ki je še v gradnji.

Celzija je pred tem potisnil Ideja da bodo njegove rudarske dejavnosti odplačale pomembne dele dolgov, vključno s 750 milijoni dolarjev medpodjetniškega posojila, ki ga je rudarska podružnica najela pri Celsiusu. Zdi se, da so se ti dolgovi in ​​stroški v zadnjih tednih tudi povečali, kot a vložitev pred zaslišanjem je pokazalo, da bo podjetju do oktobra zmanjkalo denarja, čeprav so ga svetovalci dražili, da ima potencialne posojilodajalce, ki bi lahko podjetju pomagali financirati po tej točki. Pravna ekipa teh potencialnih posojilodajalcev ni identificirala. 

Celsius je prejšnji mesec vstopil v postopke iz 11. poglavja, potem ko je ustavil dvige zaradi kaskadnih tržnih razmer in posledičnih likvidnostnih težav. Takrat je prenehal dostopati do izrudarjenega bitcoina, danes pa je iskal možnost, da ga proda za kritje operativnih stroškov, zlasti tistih, povezanih s širitvijo rudarskega poslovanja.

Prvotni osnutek predloga je vzbudil zaskrbljenost upniškega odbora in skrbnika ZDA, saj ni bilo jasno, ali Celsius namerava uporabiti ta BTC za trgovanje ali posojanje za ustvarjanje nadaljnjega dobička, vendar je končni osnutek pomiril te pomisleke. 

Kljub temu sta bila tako Glenn kot Cornell skeptična glede tega načrta in sta kazala na dokumentacijo, ki je pokazala, da je rudarski posel na pravi poti, da bo denarni tok zaenkrat negativen. Odvetniki pri Kirkland & Ellis so trdili, da je to predvsem posledica dejstva, da je center še v gradnji. 

Cornell continued to push back over transparency concerns – similar to concerns she raised during the first day proceedings. Cornell said her office still lacked sufficient information on the specifics of the mining costs, and she’s found the situation so opaque that the US Trustee is considering appointing an examiner to Celsius for clarity on this and other issues. 

Glenn je na koncu ugodil predlogu in Celsiusu omogočil monetizacijo izrudarjenih bitcoinov. 

“At the bottom, I think this is a business judgment decision,” Glenn said. 

However, he made it clear that it could ultimately prove to be a bad business judgment by Celsius. Ultimately, the firm is taking a risk on its mining business, one that could prove to have adverse effects if it doesn’t become cash flow positive.

The court did kick one can down the road in the form of a motion to sell de minimis assets. In the lead up to the hearing, the US Trustee objected to the motion, saying it was unclear what Celsius was seeking to sell, swap or transfer. During today’s hearing, Cornell said Celsius informed her team that it intended to sell stocks and equities, which she contends doesn’t fit the scope of the motion. Celsius also hasn’t yet clarified what positions it is holding and what it intends to sell off. Glenn said he wouldn’t be resolving the matter today given that new information.

Strani se bosta znova sestali 1. septembra, pred tem pa bosta upniški odbor se bosta po telefonu srečala 19. avgusta. 

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