Core Scientific will cut power to 37,000 Celsius miners: Bloomberg

Quick Take

  • Core Scientific will shut down 37,000 Celsius miners in an arrangement that marks the end of a months-long dispute between the two now-bankrupt companies.

Core Scientific will cut off power to 37,000 mining rigs for which Celsius still owes payment, the two now-bankrupt companies agreed. Bloomberg first reported the news. 

The agreement marks the end of a dispute that has been ongoing since last October, when Core said it would seek a resolution on the matter in court.

Celsius owes Core $7.8 million related to power costs for the miners through November 2022, according to court documents.

Core itself filed for bankruptcy protection in December, due in part to Celsius' bankruptcy filing and subsequent nonpayment as well as insufficient cash flow to manage its debts.

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