Celsius Network

BUXTON HELMSLEY NOMINATES FOUR HIGHLY QUALIFIED DIRECTORS TO FOSSIL GROUP BOARD TO HELP END YEARS OF SHAREHOLDER SUFFERING

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вторник, февраля 20, 2024
Steps, Citadel, Celsius Network, Certified Public Accountant, Senior, Failure, Long Island University, Certified Fraud Examiner, History, Fossil Group, Organization, Boxed, Corporation, Bank statement, Annual general meeting, School, Fortune 500, Accounting, FOSL, Bed Bath & Beyond, Lord & Taylor, CFE, Chairperson, BlackRock, Certified in Financial Forensics, Columbia University, Business school, CPA, CFF, Delta Air Lines, Spark Networks, Burford Capital, Risk, General counsel, Business, Lord, Research, LUSH, Face, CFO, The Company, Bloomberg, BHG, AIG Financial Products, Pier 1 Imports, Weil, Gotshal & Manges, Justice, Management

NEW YORK, Feb. 20, 2024 /PRNewswire/ -- The Buxton Helmsley Group, Inc. (together with certain of its affiliates, "BHG" or "we"), which has an approximate 1.4% interest in Fossil Group, Inc. ("Fossil" or the "Company") (NASDAQ: FOSL), today announced its intention to nominate four highly qualified director candidates to the Fossil Board of Directors (the "Board") at the Company's 2024 Annual Meeting of Shareholders.

Key Points: 
  • Alexander Parker, Senior Managing Director at BHG, said, "Fossil is a beloved brand that has delighted millions of customers for years.
  • "Given the Board's abysmal judgement and failure to oversee management for years, the need for immediate change at Fossil is abundantly clear.
  • As a result, Buxton Helmsley is nominating four highly qualified directors with the required skillsets, financial and operational acumen, track records of creating shareholder value, and integrity to restore Fossil's credibility and rebuild trust with investors.
  • She is also Head of Strategy, Consulting at Seramount, a professional services and research firm committed to advancing high-performing, inclusive workplaces.

Celsius Emerges from Chapter 11 and Commences Distributions of Over $3 Billion of Cryptocurrency to Creditors

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среда, января 31, 2024
Legal, Technology, Finance, Electronic Commerce, Professional Services, Digital Cash Management, Digital Assets, Blockchain, Cryptocurrency, Data Management, Celsius Network, Bitcoin, Centerview Partners, Interim, Perella Weinberg Partners, Security (finance), Fiat, White & Case, United States bankruptcy court, Committee, Digital, Hut 8, Disclosure, TSX, Hut, Bankruptcy, DOJ, BTC, Alvarez and Marsal, CFTC, Plan, Debtor, Kirkland & Ellis, LLP, UCC, ETH

The Plan includes the distribution of over $3 billion of cryptocurrency and fiat to Celsius’ creditors, and the creation of a new Bitcoin mining company—Ionic Digital, Inc.—which will be owned by Celsius’ creditors and will have its mining operations managed by Hut 8 Corp. (Nasdaq | TSX: HUT) (“Hut 8”).

Key Points: 
  • The Plan includes the distribution of over $3 billion of cryptocurrency and fiat to Celsius’ creditors, and the creation of a new Bitcoin mining company—Ionic Digital, Inc.—which will be owned by Celsius’ creditors and will have its mining operations managed by Hut 8 Corp. (Nasdaq | TSX: HUT) (“Hut 8”).
  • Today, pursuant to the MiningCo Transaction, the Company has commenced distributions of over $3 billion of liquid cryptocurrency and fiat to creditors and Ionic Digital was created as a new Bitcoin mining company that will continue to deliver recoveries to creditors.
  • Ionic Digital will be owned by Celsius’ creditors, who will own equity in the form of common stock.
  • Celsius will now pursue an orderly wind down of its operations, including discontinuing the Celsius mobile and web applications.

Chief Commercial Officer Matt Prusak leaving Hut 8 as part of planned transition to Celsius Bitcoin mining company

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пятница, января 26, 2024
Celsius Network, Bitcoin, Celsius, Data mining, Accounting, Prusak, Partnership, RFP, Hut 8, TSX, Bankruptcy, Organization, Engineering, Growth

MIAMI, Jan. 26, 2024 (GLOBE NEWSWIRE) -- Hut 8 Corp. (Nasdaq | TSX: HUT), ("Hut 8” or the “Company”) one of North America’s largest, most innovative digital asset mining pioneers and high performance computing infrastructure providers, today announced that Matt Prusak, Chief Commercial Officer of the Company, will depart Hut 8 on January 31, 2024.

Key Points: 
  • MIAMI, Jan. 26, 2024 (GLOBE NEWSWIRE) -- Hut 8 Corp. (Nasdaq | TSX: HUT), ("Hut 8” or the “Company”) one of North America’s largest, most innovative digital asset mining pioneers and high performance computing infrastructure providers, today announced that Matt Prusak, Chief Commercial Officer of the Company, will depart Hut 8 on January 31, 2024.
  • As previously disclosed in filings from the Celsius Network LLC bankruptcy proceedings, Prusak will assume a new role as Chief Executive Officer of the new bitcoin mining company being formed upon emergence.
  • “Matt has a natural ability to navigate complex environments, build powerful partnerships, and drive business growth,” said Jaime Leverton, CEO of Hut 8.
  • Hut 8 President and Director Asher Genoot will serve on the board of directors of the new company.

Mawson Infrastructure Group Inc. Announces Monthly Operational Update for December 2023

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вторник, января 16, 2024
Consensus, Celsius Network, Cosmos, Celsius, Total, Energy management, Bankruptcy, M/M, Sale, United States bankruptcy court, Conference, Miner

PITTSBURGH, Jan. 16, 2024 (GLOBE NEWSWIRE) -- Mawson Infrastructure Group Inc. (NASDAQ:MIGI) (“Mawson” or the “Company”), a digital infrastructure company, announced today its unaudited business and operational update for December 2023.

Key Points: 
  • December Total Revenue of about $5.97 million, up 24% M/M
    PITTSBURGH, Jan. 16, 2024 (GLOBE NEWSWIRE) -- Mawson Infrastructure Group Inc. (NASDAQ:MIGI) (“Mawson” or the “Company”), a digital infrastructure company, announced today its unaudited business and operational update for December 2023.
  • The Krypton deployment follows the completed deployment of the Company’s other co-location customer Consensus Technology Group (“Consensus”) for approximately 15,876 miners or approximately 50 MW.
  • As disclosed in Mawson’s previous filings, Mawson has reserved all rights and believes that Mawson is owed at least $2 million from CleanSpark, Inc.
  • Mawson further contests that Celsius’ case against it should proceed in the bankruptcy court at all.

Hut 8 Operations Update for December 2023

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пятница, января 5, 2024
Celsius Network, Bitcoin, RFP, Accounting, Hosting, Bankruptcy, Golf, Hut 8, Medicine Hat, Miner, Hut, Echo, Engineering, United States bankruptcy court, Managed services

MIAMI, Jan. 05, 2024 (GLOBE NEWSWIRE) --  Hut 8 Corp. (Nasdaq | TSX: HUT), ("Hut 8” or the “Company”) one of North America’s largest, most innovative digital asset mining pioneers and high performance computing infrastructure providers is proud to share its operations report for December 2023.

Key Points: 
  • (3)   Includes all Self-Mining, Managed Services, and Hosting hashrate, including 100% of the hashrate at the Echo site (King Mountain, TX).
  • (4)   Self-Mining operations for Hut 8 Corp. include all operations at the Echo site (King Mountain, TX).
  • On December 28, the United States Bankruptcy Court for the Southern District of New York granted approval for Hut 8 to proceed with its full mining operations plan in connection with the Celsius Network LLC bankruptcy proceedings.
  • Hut 8’s expanded digital asset mining geographical footprint now includes the following sites:

Court grants approval for Hut 8 to proceed with full mining operations plan in connection to Celsius Network LLC bankruptcy proceedings

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пятница, декабря 29, 2023
Celsius Network, Bitcoin, Sound, RFP, Accounting, Bankruptcy, Mining, Celsius, Data mining, Hut 8, Miner, Hut, Engineering, TSX, United States bankruptcy court, Cryptocurrency

MIAMI, Dec. 29, 2023 (GLOBE NEWSWIRE) -- The reorganization plan sponsored by Hut 8 Corp. (Nasdaq | TSX: HUT), ("Hut 8” or the “Company”), one of North America’s largest, most innovative digital asset mining pioneers and high performance computing infrastructure providers, filed in the Celsius Network LLC bankruptcy proceedings was approved by the United States Bankruptcy Court for the Southern District of New York.

Key Points: 
  • MIAMI, Dec. 29, 2023 (GLOBE NEWSWIRE) -- The reorganization plan sponsored by Hut 8 Corp. (Nasdaq | TSX: HUT), ("Hut 8” or the “Company”), one of North America’s largest, most innovative digital asset mining pioneers and high performance computing infrastructure providers, filed in the Celsius Network LLC bankruptcy proceedings was approved by the United States Bankruptcy Court for the Southern District of New York.
  • The plan provides for the transfer of Celsius Network LLC’s mining operations to a newly-created “MiningCo,” with Hut 8 managing MiningCo’s mining operations under a four-year mining management agreement.
  • The effectiveness of the plan remains subject to the satisfaction of certain conditions precedent.
  • As previously announced, Hut 8 combined businesses with U.S. Data Mining Group, Inc. d/b/a US Bitcoin Corp (“USBTC”) last month and was selected by Celsius to provide end-to-end development services for the Cedarvale site.

Hut 8 selected by Celsius debtors to build out Cedarvale, Texas site

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понедельник, декабря 18, 2023
Celsius Network, RFP, Accounting, Running, Mining, Bankruptcy, Celsius, Hut 8, Miner, Engineering, TSX

MIAMI, Dec. 18, 2023 (GLOBE NEWSWIRE) -- Hut 8 Corp. (Nasdaq | TSX: HUT), ("Hut 8” or the “Company”) one of North America’s largest, most innovative digital asset mining pioneers and high performance computing infrastructure providers, has signed an interim agreement to build out and install mining operations in connection with the Celsius Network LLC bankruptcy proceedings at a site in Cedarvale, Texas.

Key Points: 
  • MIAMI, Dec. 18, 2023 (GLOBE NEWSWIRE) -- Hut 8 Corp. (Nasdaq | TSX: HUT), ("Hut 8” or the “Company”) one of North America’s largest, most innovative digital asset mining pioneers and high performance computing infrastructure providers, has signed an interim agreement to build out and install mining operations in connection with the Celsius Network LLC bankruptcy proceedings at a site in Cedarvale, Texas.
  • Once complete, the site will house approximately 66,000 miners and be powered by more than 215 MW of energy.
  • “We believe that the strength of Hut 8's managed services business with 680 MW currently under management, coupled with our track record of swiftly standing up mining infrastructure and efficiently running and optimizing operations, were key factors in being chosen as the partners for this project,” said Asher Genoot, President of Hut 8.
  • The scope of the services to be provided includes site design, engineering, financial modeling, budgeting, accounting, construction management, procurement, logistics, and RFP coordination.

Celsius to Transition to Mining-Only NewCo following Bankruptcy Court’s Confirmation of Plan

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вторник, ноября 21, 2023
Finance, Cryptocurrency, Blockchain, Professional Services, Technology, Celsius Network, Bitcoin, Alvarez and Marsal, United States bankruptcy court, Disclosure, Security (finance), Mining, LLP, Kirkland & Ellis, Perella Weinberg Partners, Unsecured creditor, White & Case, Centerview Partners, Committee, Debtor, Bankruptcy, Fahrenheit, Plan, Celsius

On November 9, 2023, the United States Bankruptcy Court for the Southern District of New York (the “Bankruptcy Court”) confirmed Celsius Network LLC’s (“Celsius” and together with its debtor affiliates, the “Debtors”) chapter 11 plan (the “Plan”).

Key Points: 
  • On November 9, 2023, the United States Bankruptcy Court for the Southern District of New York (the “Bankruptcy Court”) confirmed Celsius Network LLC’s (“Celsius” and together with its debtor affiliates, the “Debtors”) chapter 11 plan (the “Plan”).
  • This was the core business of the new company that was proposed to be created with Fahrenheit, LLC that was described in the Plan (the “Fahrenheit NewCo”).
  • Celsius is in discussions with certain parties regarding the terms and conditions of the future management of the Mining NewCo.
  • In the coming weeks, the Debtors intend to file a motion with the Bankruptcy Court to approve modifications to the Plan to reflect the new Mining NewCo transaction.

Core Scientific, Inc. and Celsius Mining LLC Enter into Purchase Agreement for Core Scientific’s Texas Data Center Site, Agree to Settle All Existing Litigation

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пятница, сентября 15, 2023
Software, Cryptocurrency, Finance, Data Management, Web3, Professional Services, Technology, Fintech, Bitcoin, Celsius Network, Interim, Bankruptcy, Plan, Chapter 11, Title 11, United States Code, Fahrenheit, Multimedia, Sale, Science, Mining, OTC, NewCo, United States bankruptcy court, Court, Growth, Entrepreneurship, Cedarvale, Audit, Celsius

View the full release here: https://www.businesswire.com/news/home/20230915933172/en/

Key Points: 
  • View the full release here: https://www.businesswire.com/news/home/20230915933172/en/
    “We are pleased to resolve all existing litigation related to Celsius Mining,” said Adam Sullivan, CEO of Core Scientific.
  • If approved, the parties would reach a settlement and mutual release with respect to all existing litigation.
  • This purchase sets an early foundation for Celsius to reach a value-maximizing conclusion with Fahrenheit LLC (“Fahrenheit”), Celsius’ previously announced Plan Sponsor.
  • Additional information about Celsius’ Chapter 11 filing, including Court documents, can be found online free of charge at https://cases.stretto.com/celsius .

US Bitcoin Corp (USBTC) Secures Deal with Celsius to Host 8,500 Miners at the Alpha Site

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четверг, августа 31, 2023
Data Management, Technology, Professional Services, Blockchain, Utilities, Software, Cryptocurrency, Networks, Internet, Energy, Hardware, Bitcoin, Celsius Network, Partnership, Celsius, Miner, Fahrenheit, Hut, Title 11 of the United States Code, Data, Mining, Transaction, MIO, TSX, ESG, Bankruptcy

Asher Genoot, USBTC President, shared his thoughts on this new venture, saying, "The opportunity to manage the Celsius assets marked a defining milestone.

Key Points: 
  • Asher Genoot, USBTC President, shared his thoughts on this new venture, saying, "The opportunity to manage the Celsius assets marked a defining milestone.
  • As we drive forward in conjunction with Fahrenheit, we're embarking on a new chapter that builds upon that success.
  • In aggregate, the Company anticipates managing a fleet of more than 310,000 bitcoin miners including miners owned by Celsius, other clients, and its own machines.
  • In aggregate, the Company expects to manage a fleet of more than 310,000 bitcoin miners across Celsius and hosted assets.