Celsius Network is distributing over $3 billion to creditors following bankruptcy emergence.

Creditors to receive equity in Ionic Digital, a Bitcoin mining company poised to go public with 127,000 machines in Texas.

Celsius' reorganization plan received overwhelming support from account holders and was approved by the Bankruptcy Court.

Hut 8 Corp will manage Ionic Digital's mining operations, with backing from PayPal and Coinbase for crypto distribution.

Celsius' former CEO, under fraud charges, has a trial set for September 2024.

The company will cease its mobile app and website operations by February 28.

Celsius' digital token has decreased by 2.4% recently, amidst the industry's efforts to regain trust and enhance stability.