Celsius Expands its Series B From $400M to Oversubscribed $750M

The company’s new proceeds will in part go toward further bridging centralized finance and DeFi via its recently announced project CelsiusX, the company said.

article-image

Source: Celsius

share
  • “We’re happy to include more investors that will make Celsius stronger,” Mashinsky said
  • Earlier this week, Celsius Network announced it would invest an additional $300 million into its bitcoin mining capabilities

Crypto lending platform Celsius Network has upped its $400 million Series B round from October to $750 million after oversubscribing the raise, the company’s CEO Alex Mashinsky told Blockworks on Wednesday. 

Celsius previously closed its capital raise of $400 million, led by West Cap and Caisse de dépôt et placement du Québec (CDPQ), bringing its valuation to $3.25 billion in October.

“We paid over $1 billion to our community in yield, and I think the investors’ excitement in almost doubling the round show that our mission of ‘doing good then doing well’ is working and they want to be apart of it,” Mashinsky said. “We’re happy to include more investors that will make Celsius stronger.” 

The company’s new proceeds will go toward expanding its product offerings, growing into new markets and further bridging centralized finance and DeFi via its recently announced project CelsiusX, the company said in a statement. 

Additionally, Celsius will use the funds to further improve the utility of its platform for its supportive community of users, and its commitment to sustainable Bitcoin mining, the company said.

Earlier this week, Celsius Network announced it would invest an additional $300 million into its bitcoin mining capabilities as the platform’s assets under management continue to grow, Blockworks previously reported

Celsius began building its mining business last year as a way to diversify its sources of yield, Mashinsky told Blockworks at the time. The business will continue to scale its mining operations based on the amount of assets managed, Mashinsky added. Celsius’s AUM has grown to $28.6 billion. 

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Unlocked by Template (11).png

Research

Union’s technical design brings measured improvements to crosschain interoperability. By combining a consensus-verified hub with novel constructs like state lenses and ZK proofs for client updates, Union achieves an interoperability protocol that is highly performant, trust-minimized, and scalable.

article-image

The Google Cloud Web3 lead outlined a new Layer 1 with CME piloting tokenization on its rails

by Blockworks /
article-image

Camp is looking to onboard licensors and creators to monetize their content for AI agents

article-image

The US regulator will use Nasdaq’s system to detect manipulation across derivatives and prediction markets

by Blockworks /
article-image

SOL and HYPE have rebounded, dYdX course corrects (again)

article-image

Over 100 crypto firms and advocates urge Congress to shield open-source builders and non-custodial providers

by Blockworks /
article-image

The probabilities app is finding mainstream success