<p><span style="font-weight: 400;">Core Scientific will cut off power to 37,000 mining rigs for which Celsius still owes payment, the two now-bankrupt companies agreed. <a href="https://www.bloomberg.com/news/articles/2023-01-03/crypto-miner-core-scientific-to-shutter-over-37-000-celsius-rigs?leadSource=uverify%20wall">Bloomberg</a> first reported the news. </span></p> <p><span style="font-weight: 400;">The agreement marks the end of a dispute that has been ongoing since last October, when Core said it would seek </span><a href="https://www.theblock.co/amp/post/176589/core-scientific-wants-celsius-to-pay-its-mining-bills-amid-bankruptcy-process"><span style="font-weight: 400;">a resolution</span></a><span style="font-weight: 400;"> on the matter in court.</span></p> <p><span style="font-weight: 400;">Celsius owes Core $7.8 million related to power costs for the miners through November 2022, according to court documents.</span></p> <p><span style="font-weight: 400;">Core itself filed for </span><a href="https://www.theblock.co/post/196925/core-scientific-files-chapter-11-bankruptcy"><span style="font-weight: 400;">bankruptcy protection</span></a><span style="font-weight: 400;"> in December, due in part to Celsius' bankruptcy filing and subsequent nonpayment as well as insufficient cash flow to manage its debts.</span></p><br /><span class="copyright"><p>© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.</p> </span>