Core Scientific is preparing to defend its interests against Celsius

  • Ultramining.com
  • 09:00 Oct 14, 2022
  • 253
Core Scientific is preparing to defend its interests against Celsius

The company notified the SEC Wednesday that it has sought counsel's help and is prepared to get a fair resolution to its dispute with Celsius MiningThe representatives said:

The bankruptcy court's ruling granting preemption of hosting services in the absence of payment for such services is unfavorable and untimely and has an adverse effect on the petitioner's financial condition.

Core Scientific alleges that the debtor company has not repaid $5.4 million for hosting services. At the same time, a petition for bankruptcy protection has been filed by Celsius.

Core Scientific opposes such actions and is ready to continue working to obtain a court order and repay the amounts owed.

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