Celsius Distribution FAQ (Archived)

The Distributions FAQ has been relocated to a searchable Knowledge Base, integrated with the support ticketing system.

24 min readDec 28, 2023

April 9, 2024: To more easily navigate through FAQs, we have relocated our Distributions FAQ to a searchable Knowledge Base. This new resource is integrated with the support ticketing system and contains comprehensive information on distributions and answers to frequently asked questions.

For court updates, continue to visit cases.stretto.com/celsius.

Final update: March 27, 2024

Celsius was a global cryptocurrency platform and Bitcoin mining company that emerged from Chapter 11 bankruptcy on January 31, 2024.

On February 29, 2024, the Celsius mobile and web apps were shut down, as a part of the winding down of its business operations, as detailed in the Plan of Reorganization. This will have no impact on distributions to creditors.

Beginning on February 1, 2024, claim distributions to Eligible Creditors are being made in cryptocurrency and US dollars. Some creditors are eligible to receive equity shares in Ionic Digital LLC, which is the reorganized mining business, formed following the emergence from bankruptcy in accordance with the Plan. For more information, please refer to the case details at Stretto.

Below are answers to frequently asked questions regarding Celsius claim distributions. We strongly suggest you review this Distributions FAQ and resources related to claim distributions before contacting support, as we continue to update questions and answers on a regular basis. In the event you still require assistance, please initiate a support inquiry.

Please note that our support team is currently experiencing a high volume of inquiries related to distributions and will answer your inquiry as soon as practicable. Submitting multiple support inquiries will only extend our queue and will cause further delays for all creditors. Please refrain from emailing multiple addresses with the same question, as this may cause further delays in our ability to respond.

General Questions

I cannot open the Celsius app anymore, and I never got my assets back. What do I do in this situation?

The Celsius app being shut down will have no impact on distributions to creditors.

On February 29, 2024, the Celsius app was shut down, as a part of the winding down of its business operations, as detailed in the Plan of Reorganization. Creditors should reference their emails from Stretto with more details on their individual claim, as creditor recoveries are highly individualized and dependent on a variety of factors.

While former Custody account holders, or users with Post-Petition deposits, with eligible balances to withdraw have missed the window to withdraw their assets in-kind, there is more detail in this FAQ on how a distribution will be made to them in the event of inaction to timely withdraw their Custody assets.

Former Earn account holders, who have not been able to utilize most features of the Celsius app for some time, are receiving their distribution via a Distribution Partner such as PayPal/Venmo or Coinbase, and the Celsius app closure has no impact on their distribution.

If you have not received communication about your distribution, or believe that your personal information previously on file with your Celsius account was incorrect, please initiate a support inquiry.

What happens to my Custody assets if I did not withdraw them from the Celsius app before it closed?

If you did not request to withdraw your eligible Custody assets by February 28, 2024, these assets will be converted to US Dollars and/or BTC/ETH as described in the Plan. Your distribution will be made through an assigned Distribution Partner and you will receive further communication about this process via email.

If your total Custody assets convert to less than $10 USD and you did not withdraw such assets from your Celsius account before the Celsius app closure, such assets will not be distributed and will instead be returned to the Estate.

Any distribution that is unclaimed or otherwise remains undeliverable for a period of one year after the first attempt to deliver, shall be treated as unclaimed property under the Plan and returned to the Estate for future distributions made under the Plan to eligible creditors.

I want to receive my Custody assets in-kind, not in BTC/ETH or USD. How can I get them back?

The deadline to withdraw your Custody assets in-kind has passed (February 28, 2024). As described in the Plan [Docket №4289], these assets will be converted into US Dollars (USD) and/or BTC/ETH and will be distributed through an assigned Distribution Partner.

I opened a support ticket related to my Celsius account. Now that the Celsius app is closed, is it too late for my issue with my account to be resolved?

Stretto and Celsius are continuing to provide customer support resources to former Celsius account holders. Changes to your personal information can still be made through customer support — such as name changes, address updates, date of birth corrections, or required updates to your contact information. If you believe your personal information with your Celsius account was incorrect, please initiate a support inquiry.

How will I receive my claim distribution?

The Plan [Docket №4289] includes distributions of creditor claims made in Bitcoin (BTC) and Ethereum (ETH) cryptocurrencies for certain eligible creditors who reside in jurisdictions where our Distribution Partners, Coinbase and PayPal/Venmo, can support cryptocurrency distributions. In the event you cannot receive cryptocurrency distributions via Coinbase or PayPal/Venmo for any reason, you will receive your distribution in US dollars (USD) through one of our other partners.

When will I receive my claim distribution?

Initial cryptocurrency and US dollar distributions are currently being made to eligible creditors, as of February 1, 2024. Claim distributions are being made to hundreds of thousands of creditors around the world, and this process will take time to successfully communicate instructions and distribute claims to all eligible creditors. Please be patient as Celsius and its distribution partners facilitate claims to creditors and support various creditor situations over the coming weeks.

How will I know which Distribution Partner I have been assigned?

You will be notified directly via email once your Distribution Partner has been assigned. In the event you no longer have access to your email address associated with your Celsius account, please initiate a support inquiry.

In general, distributions to creditors residing in the United States will be made via PayPal, and distributions to creditors outside of the United States will be made by Coinbase (as long as that country is supported by Coinbase). Please see the Coinbase Cryptocurrency Distributions section of this FAQ for a list of countries supported by Coinbase. If you are not eligible to receive a distribution in cryptocurrency due to your particular circumstances, you will receive your distribution in US dollars.

Can I choose my Distribution Partner?

No. You are not able to affirmatively select a Distribution Partner.

Why haven’t I been contacted about my claim distribution?

Communications are currently being made to all eligible creditors through email. The distributions of creditor claims are being made to hundreds of thousands of creditors around the world, and this process will take time to successfully communicate instructions and distribute claims to all eligible creditors.

In the event you are a creditor who is not eligible to receive an initial claim distribution, you will not receive claim distribution instructions at this time. Creditors will be notified if and when more information is available.

I received an email communication, but how do I know if it’s valid?

Please stay alert and remain vigilant for phishing attempts. Celsius or their respective advisors will never contact you directly by phone, text message, or social media to request account or personal information absent an order or on-the-record instruction by the Court.

The Notice of Effective Date [Docket №4298] includes recommendations on how you can avoid falling victim to phishing attempts. It also includes a list of official websites and email addresses for reference, and these email addresses are reproduced below:

celsius.network
stretto.com
cases.stretto.com
celsiusnetwork.medium.com
cases.stretto.com/Celsius
hello@celsius.network
no-reply@cases-cr.stretto-services.com
noreply@cases-cr.stretto-services.com
ionicdigital@odysseytrust.com
celsiusdistribution@stretto.com

What is the percentage of my Claim amount that I will receive as a distribution?

Please refer to the Plan [Docket №4289], the Disclosure Statement [Docket №3332], and the Notice of Effective Date [Docket №4298] for information about the composition of distributions and estimated recoveries. The Notice of Effective Date includes an illustrative recovery for an Earn creditor (see Appendix A).

As indicated in the Disclosure Statement, recovery percentages depend on a number of factors, including the value of BTC and ETH and the implementation of the MiningCo Transaction. As a reminder, creditors hold different Claims (or combinations of Claims) against the Debtors, and may have been eligible for different elections and settlements during the voting on the Plan. Accordingly, creditor recoveries are highly individualized and dependent on a variety of factors.

Why am I receiving less than what was previously in my Celsius account?

The Celsius app was shut down on February 29, 2024, and the balance information previously displayed in the app was not reflective of the value used to calculate your claim. Celsius filed for bankruptcy on July 13, 2022, and the value of your claim was calculated in US dollars based on the assets showing in your Celsius account on the bankruptcy filing date.

I received my crypto distribution, but I’ve only received BTC/ETH. Why didn’t I receive the same coins I had in my Celsius account?

Cryptocurrency distributions are only being made in Bitcoin (BTC) and Ethereum (ETH), as outlined in the court approved Plan [Docket №4289].

I no longer live at the address associated with my Celsius account. How can I update this?

In order to receive your claim distribution, it is important that your address is up to date.

If you moved between countries or moved to or from Hawaii, it may affect your Distribution Partner assignment and a change to your Distribution Partner might be required. Note that updates made to Personal Information may delay your distribution and we ask that you remain patient as we route your distribution to the appropriate Distribution Partner. Cryptocurrency is only supported in select jurisdictions.

If you are receiving a US dollar distribution, it is critical to ensure your mailing address is accurate for receiving your bank wire or check by mail.

If you need to update your address, please initiate a support inquiry.

How can I update my email address?

To change the email associated with your Celsius account, please initiate a support inquiry.

How can I correct my Date of Birth (DOB)?

To correct the DOB associated with your Celsius account, please initiate a support inquiry.

What type of documentation will be provided for accounting and tax purposes?

Celsius will not be providing any documentation to creditors for accounting and tax purposes.

How can I get a copy of my Celsius account transaction history?

To request a copy of your Celsius account transaction history, please initiate a support inquiry.

Celsius asked me to provide a Tax Identification Information (TIN), how can I do this?

In order to provide your required TIN, please initiate a support inquiry with the following form options selected:

Select “I need to Update my Personal Information” and “My Tax Identification Number (TIN) needs to be updated”
In the Subject line, include your Full Name and TIN

The support team will process your request and verify your information. Once this has been completed, you will either automatically be assigned a distribution partner or Celsius will reach out with additional information.

I am a creditor with a corporate account, how will I receive my distribution?

A limited number of corporate accounts will receive their distribution in cryptocurrency through Coinbase and they will be directly notified by Celsius. All other corporate creditors will receive their distribution in US dollars.

Will I still receive a distribution if I did not vote for the Plan?

Yes. Generally, creditors who did not vote for the Plan will receive a claim distribution. However, several factors may affect the timing of your distribution, including, but not limited to, whether you opted out of the Class Claim Settlement, whether you have outstanding Withdrawal Preference Exposure at the time of distributions, and other factors.

I am a Borrower and have questions regarding my Celsius loan. What should I do?

If you are a Borrower, refer to the Notice to Holders of Retail Borrower Deposit Claims [Docket №4206] regarding Plan treatment associated with your claim. Please note that the deadline to notify the Debtors of your intent to refinance or repay your Retail Advance Obligations has passed. If you did not notify the Debtors of your intent to refinance or repay your Retail Advance Obligations, you will receive the Set Off Treatment on account of your Retail Borrower Deposit Claim. If you have additional questions regarding the repayment or refinancing of your loan, please initiate a support inquiry.

Coinbase Cryptocurrency Distributions

Do I need to have a Coinbase account to receive my claim?

If you have been notified that you will receive your claim distribution through Coinbase, you need to have an active Coinbase account. You must use the same email address associated with your Celsius account in order for your claim distribution to be received.

If you do not currently have a Coinbase account, you will have to sign up for an account to receive your assets.

I received an email telling me to create a Coinbase account but I already have one. What should I do?

To receive your cryptocurrency distribution, please ensure you have an active account at Coinbase using the same email address used for your Celsius account. If your emails are already matching, no further action is required.

How will I receive my claim distribution in my Coinbase account?

Creditors who are receiving their claim distribution from Coinbase must have an active account at Coinbase using the same email address associated with their Celsius account. Once your personal details have been matched by Coinbase, claim distributions are automatically deposited into your account.

When your claim distribution is successful, you will receive a communication from Coinbase notifying you of a deposit into your Coinbase account. You will also receive an email from Stretto confirming the receipt of your claim.

I received an email that my distribution “encountered an error” while being processed, what does this mean?

In the event your Coinbase email does not match the email associated with your Celsius account, you will be notified that your distribution was attempted, but an error occurred. You will continue to be notified after an attempt is made, or until your claim is successfully distributed or in the event your distribution cannot be serviced through Coinbase.

Please follow the instructions in this FAQ and outlined in the email you receive. If you are still experiencing issues, please contact Coinbase support.

I received an email that my distribution “cannot be serviced through Coinbase,” what does this mean?

If for any reason Coinbase cannot service your claim, you will be notified that you will not be able to receive your distribution through Coinbase. Please be patient as we work on rerouting your distribution with our Distribution Partners and prepare any actions that will be required of you.

My Coinbase account is restricted. How will I receive my distribution?

In order to receive a cryptocurrency distribution through Coinbase, you must have an active account. In the event your account is not active for any reason, you will be notified that you “cannot be serviced through Coinbase.”

We will evaluate alternative options for creditors who cannot be supported by their assigned Distribution Partner. Any updates will be communicated to creditors through email or through the filing of a notice on the docket.

Who will receive their cryptocurrency distribution via Coinbase?

If you are a creditor residing in one of the countries included in the table below, Celsius will attempt to make your distribution through Coinbase. Accordingly, you should open a Coinbase account matching the information associated with your Celsius account. If you are unable to receive your distribution at Coinbase for any reason, you will be assigned to receive your distribution in US dollars.

Please note that the list of countries below may be modified, and there is no guarantee that you will receive your distribution via Coinbase if you are a resident of one of these countries. More specifically, you will be required to meet the KYC and other requirements of Coinbase for the applicable jurisdiction.

Albania
Andorra
Argentina
Australia
Austria
Azerbaijan
Belgium
Bolivia, Plurinational State Of
Brazil
Bulgaria
Burkina Faso
Cameroon
Canada
Cayman Islands
Chile
Colombia
Costa Rica
Croatia
Cyprus
Czech Republic
Denmark
Dominican Republic
Ecuador
El Salvador
Estonia
Faroe Islands
Finland
France
Georgia
Germany
Ghana
Gibraltar
Greece
Guatemala
Guernsey
Hong Kong
Hungary
Iceland
Indonesia
Ireland
Isle Of Man
Italy
Jamaica
Japan
Jersey
Kazakhstan
Kenya
Kuwait
Latvia
Liechtenstein
Lithuania
Luxembourg
Malta
Mexico
Monaco
Mongolia
Nepal
Netherlands
New Zealand
Nigeria
Norway
Pakistan
Panama
Peru
Philippines
Poland
Portugal
Romania
Saint Kitts And Nevis
Saint Martin
San Marino
Serbia
Singapore
Sint Maarten
Slovakia
Slovenia
South Africa
Spain
Sri Lanka
Sweden
Switzerland
Taiwan
Thailand
Togo
Tunisia
Turkey
Ukraine
United Arab Emirates
United Kingdom
Zimbabwe

What if my country is not supported by Coinbase?

We continue to evaluate alternative options for unsupported countries. Any updates will be communicated to creditors through email, in this FAQ, or through the filing of a notice on the docket. If your country is not listed above, you will most likely receive your distribution in US dollars.

I am in one of the supported countries, but Coinbase won’t let me open an account. How will I receive my distribution?

Could I receive my distribution through a Coinbase Wallet?

Distributions made via Coinbase will take place through customer Coinbase exchange accounts and cannot be routed to Coinbase Self-Hosted Wallets.

Is there a deadline by which I must collect my cryptocurrency via Coinbase?

Creditors will have one year to redeem their distributions from the first attempt to deliver (which for cryptocurrency shall be the first date on which such distributions are open for a particular creditor). Any distribution that is unclaimed or otherwise remains undeliverable for a period of one year after the first attempt to deliver, shall be treated as unclaimed property under the Plan and returned to the Estate for future distributions made under the Plan to eligible creditors.

How do I update my information in my Coinbase account?

We suggest reviewing the Coinbase Help Center for Celsius creditors to help assist you with your Coinbase account information. If you need help creating an account, accessing your account, or other questions related to your Coinbase account, please contact Coinbase support.

Please note that neither Celsius nor Stretto will be able to resolve issues with your Coinbase account.

Where do I go for help with my Coinbase account?

Please note that neither Celsius nor Stretto will be able to resolve issues with your Coinbase account.

Is there a dedicated Coinbase support contact for Celsius account holders?

No, Celsius creditors can contact Coinbase general customer support for any issues related to their account.

I need help updating my Celsius account email address to match my Coinbase account. What should I do?

If your Coinbase account email is different from the email associated with your Celsius account, we recommend making this email address update in your Coinbase account. How to change your email address on Coinbase.

Do I have to pay a fee to receive my distribution at Coinbase?

No, there are no fees to receive your claim distribution into your Coinbase account. When transferring your distribution to a wallet outside of Coinbase, blockchain network transaction fees will apply. These network transaction fees are disclosed when submitting a withdrawal transaction off the Coinbase platform.

What is the daily limit on withdrawals from Coinbase?

Withdrawal, trading, and other limits are determined based on your account’s verification level, your account jurisdiction and potentially other factors. Visit Coinbase here for more information.

PayPal or Venmo Cryptocurrency Distributions

How do I sign up for PayPal or Venmo?

If you do not already have a PayPal or Venmo account, please visit their websites and create a new personal, non-business account: https://www.paypal.com/us/webapps/mpp/account-selection or https://venmo.com/signup/.

I received an email telling me to create a PayPal or Venmo account but I already have one. What should I do?

To receive your cryptocurrency distribution, please ensure you have an active account at PayPal or Venmo using the same personal information used for your Celsius account, including your Name and Date of Birth.

Instructions on how to collect your claim distribution at PayPal or Venmo will be sent through email.

How will I collect my claim distribution through my PayPal or Venmo account?

Creditors who are receiving their claim distribution from PayPal or Venmo will receive an email from Stretto with notice that a claim is available for them to collect at PayPal or Venmo. Each cryptocurrency asset associated with your claim distribution will have a unique claim code, for instance one claim code for BTC and one claim code for ETH. Each email will contain a unique claim code with instructions for collection on the PayPal or Venmo platform.

After logging in to your account at PayPal or Venmo, navigate to the “Crypto” section and find a section for users with a Celsius claim code. Click “Redeem Claim Code” and follow the instructions.
For security and compliance reasons, creditors will not be able to access the Celsius Creditor Claims distribution at PayPal or Venmo from outside of the United States.
If you have not already enabled cryptocurrency on your PayPal or Venmo account, you will be asked to complete certain identification steps and accept PayPal’s or Venmo’s terms of service. Once submitted, PayPal or Venmo will process your claim and ensure your identity matches the identification information you have provided to Celsius.

When your claim is confirmed, you will receive an email from PayPal or Venmo notifying you of a deposit into your PayPal or Venmo account. You will also receive an email from Stretto confirming your receipt of your claim.

Is there a deadline by which I must collect my claim through PayPal or Venmo?

If I want to move my cryptocurrency out of my PayPal or Venmo account, will their current cryptocurrency withdrawal limits apply to Celsius creditors?

PayPal’s standard weekly withdrawal limit is $10,000, and Venmo’s standard weekly withdrawal limit is $5,000. If your Celsius cryptocurrency distribution is $40,000 or more, you can submit a withdrawal limit increase request to increase your weekly withdrawal limit to $500,000. This form is available on the PayPal and Venmo Celsius claim pages and is linked here: https://www.paypalobjects.com/cryptocurrency/redeem/12122023/celsius_limit_increase.pdf. To increase your withdrawal limit, follow the instructions in the form, and then email it to cryptolimits@paypal.com or cryptolimits@venmo.com. Please note that the request will only be reviewed if it is sent from the email address associated with your PayPal or Venmo account. Please allow time for the form to be processed, as these will be reviewed and accepted individually. Please visit the PayPal support page for Celsius creditors for more information.

I received an error while attempting to collect my claim at PayPal or Venmo, what should I do?

There are a few reasons why you could be receiving an error at PayPal or Venmo, please first ensure that you:

Confirm the Claim Code and Date of Birth was entered into the form correctly. Please ensure there are no errant spaces or characters added into the form.
Ensure you are using the latest version of the PayPal or Venmo mobile application.
Ensure your PayPal account is held in your name. It cannot be within an account that is a part of a family plan.
Do not try to bounce between PayPal and Venmo platforms. If you attempt to collect your claim on PayPal or Venmo, an error may occur when you attempt to claim your code on the other platform. This is true regardless of whether you are attempting one or more claim codes.
Do not use VPNs or services which mask your location or IP address.
Do not use prepaid phones, Google Voice numbers, government issued phones or information that does not match your account information while verifying your identity with PayPal or Venmo.
Wait at least 24 hours after changing personal information with PayPal or Venmo to redeem or try to transfer cryptocurrency.

For other error messages, PayPal suggests the following tips to troubleshoot on your own:

Retrigger the KYC process for enabling crypto on your account. If your account is missing information, you can trigger the verification process by clicking on “Buy” under the Crypto section of PayPal (under Finances) or Venmo. Note: you do not need to purchase to complete this process. The KYC validation process may take up to 48 hours to be completed.
If you are using PayPal, ensure your tax information is correct. If your account is missing information, you may need to add or update your tax information. Review in your account.
Confirm your Date of Birth is correct. If your Date of Birth is incorrect, this will impact your ability to move forward. It must be up to date with both Celsius and PayPal or Venmo when you attempt your claim code.

Please note that if for any reason PayPal or Venmo cannot service your claim, you will be notified that your distribution “cannot be serviced through PayPal or Venmo.”

I received an email that my distribution “cannot be serviced through PayPal or Venmo,” what does this mean?

If for any reason PayPal or Venmo cannot service your claim, you will be notified that you will not be able to receive your distribution through PayPal or Venmo. Please be patient as we work on rerouting your distribution with our Distribution Partners and prepare any actions that will be required of you.

I successfully collected my claim at PayPal or Venmo, but I do not have the option to transfer my cryptocurrency off the platform. What should I do?

In most cases, you will be able to sell or transfer your cryptocurrency immediately once your claim distribution transfer is confirmed — you will receive an email verification with your transaction details.

In the event you attempt to transfer and do not see the option to transfer when selecting a coin, please wait up to 48 hours. There is a chance the platform has not yet completed the KYC verification process. If you continue to experience an issue with transferring your coins 48 hours after you’ve completed your account verification steps, please contact PayPal or Venmo for support.

My PayPal or Venmo account is restricted, what should I do?

In order to receive a cryptocurrency distribution through PayPal or Venmo, you must have an active account. In the event your account is not active for any reason, you will be notified that you “cannot be serviced through PayPal or Venmo.”

Where do I go for help with my PayPal or Venmo account?

Please visit the PayPal support page for Celsius creditors to help assist you with your PayPal or Venmo account information. If you need help creating an account, accessing your account, or other questions related to your PayPal or Venmo account, please contact PayPal or Venmo support.

Please note that neither Celsius nor Stretto will be able to resolve issues with your PayPal or Venmo account.

Is there a dedicated PayPal or Venmo support contact for Celsius creditors?

No, Celsius creditors can contact PayPal or Venmo general customer support for any issues related to their account.

Could I split my claim distribution between my PayPal and Venmo accounts?

Your claim distributions must be completed on the same platform where they are initiated; through either PayPal or Venmo. For example, if you claim your BTC on PayPal, you must also claim your ETH on PayPal. If you claim your BTC on Venmo, you must also claim your ETH on Venmo.

Do I have to pay a fee to receive my distribution from PayPal or Venmo?

No, there will be no fees to receive your cryptocurrency distribution into your PayPal or Venmo account. Any fees for withdrawing your cryptocurrency will be the usual and customary fees associated with the blockchain in question.

For more information regarding PayPal fees, please visit: https://www.paypal.com/us/webapps/mpp/paypal-fees.

US Dollar (USD) Distributions

When will I receive my claim distribution in USD?

USD distributions were scheduled to be distributed as soon as reasonably possible after the Effective Date of the Plan, which was January 31, 2024. However, in February 2024 there was an unexpected delay in US Dollar distributions, due to uncertainty surrounding our prior banking partner’s financial condition. It became necessary to promptly change our banking partner to ensure the continued security of the Estate’s assets. As of March 2024, USD distributions have now begun through our new banking partners and those receiving distributions will receive specific instructions by email on how those funds will be made available.

How will I receive my claim distribution in USD?

Currently, USD distributions will be made to creditors by either a USD check in the mail or a USD wire transfer. While the majority of creditors receiving USD distributions will be sent a USD check in the mail, some creditors will have the opportunity to receive their distribution by wire transfer. Please follow the instructions in the email if you have received such a request.

We continue to evaluate options in the event an alternative distribution method is required, and ask that you please initiate a support inquiry to provide more information on your particular situation.

I received an email asking me to complete a Wire Distribution Form on Stretto’s website. How do I know if this is valid?

Some creditors will have received an email from no-reply@cases-cr.stretto-services.com with instructions to complete a Wire Distribution Form on the Stretto website. This is a valid communication, but please stay alert for potential phishing attempts.

Will I need to pay fees for receiving a wire transfer?

You may incur fees from your bank. Please contact your bank for more information.

Can I elect to receive my claim distribution in USD?

No. Unless the address associated with your Celsius account is in a country that does not authorize the distribution of cryptocurrency based on local jurisdictional laws, or other circumstances described above apply, you will receive your claim distribution via your assigned Distribution Partner.

Can I elect to receive my claim distribution in cryptocurrency instead of USD?

No. Unless the address associated with your Celsius account is in a country that allows for the distribution of cryptocurrency based on local jurisdictional laws, or other circumstances described above apply, you will receive your claim distribution in USD.

I won’t be able to receive a check in the mail. What should I do?

We are aware that USD checks are not supported by all banks and may impact the ability for you to receive your distribution. While the majority of creditors receiving USD distributions will be sent a USD check in the mail, some creditors will have the opportunity to receive their distribution by wire transfer. Please follow the instructions in the email if you have received such a request.

Equity Distributions

When will MiningCo common stock be issued?

Some creditors will receive shares of common stock in the Bitcoin mining company created pursuant to the Plan of Reorganization. The new Bitcoin mining company is called “Ionic Digital,” and certain creditors will receive shares of common stock in Ionic Digital as part of their distributions under the Plan. Shares in Ionic Digital will be issued shortly after the Effective Date of the Plan, which is January 31, 2024.

How will I receive my shares of common stock for MiningCo?

For more information, please refer to the FAQ published on the website of the stock transfer agent, Odyssey Transfer and Trust Company at the following link: ionicdigital.odysseytrust.com.