Fahrenheit Finance LLC

Fahrenheit, LLC is a consortium of buyers that notably includes the venture capital firm Arrington Capital and mining company U.S. Bitcoin Corp. In May 2023, the group successfully won an auction to acquire the assets of the insolvent crypto firm Celsius Network. The approved restructuring plan involves creating a new, publicly-traded company (referred to as "NewCo") that will be owned by Celsius creditors. This new entity will manage Celsius's remaining assets, including its crypto holdings, institutional loan portfolio, staking business, and Bitcoin mining operations, with the stated mission of maximizing the value and recovery for Celsius's former customers.