Celsius's customer repayments are expected to reach $70 million

According to a Thursday filing by Celsius restructuring law firm Kirkland & Ellis, Celsius expects to receive cash proceeds of approximately $70 million from customer repayments on dollar-denominated loans. Celsius expects to receive the majority of the repayment by October 7 and will have a disposable cash balance of $42 million by the end of November. Based on the company's weekly net cash flow, its cash reserves will barely last until the end of the year. As previously reported by BlockBeats, Celsius Chief Financial Officer Chris Ferraro, speaking at a bankruptcy hearing with creditors on August 20, said Celsius may now have sufficient funds to keep it operating until the end of the year. Additional funding comes from a $61 million loan to Bitfinex, which maturates in the next few weeks, and $20 million in related tax savings from Celsius's purchase of mining equipment. Celsius is expected to become cash flow positive by early 2023.