Mining company Core Scientific accused Celsius Network of failing to meet financial obligations

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Ultramining.com

09:56 Oct 26, 2022

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Mining company Core Scientific accused Celsius Network of failing to meet financial obligations

Core Scientific, an organization specializing in virtual coin mining, has filed charges against Celsius Network for refusing to pay its bills. Recall that the former cryptocurrency lending company declared bankruptcy. Because of which, it has had a slew of financial troubles with a number of firms.

Core Scientific representatives are worried that the lack of payments can severely affect the financial stability of the organization. By the way, the company is already experiencing monetary difficulties. Which are related to the crypto winter and rising electricity prices.

The case between the two organizations has gone to court.

Celsius Network claims that the mining company, Core Scientific, did not fulfill its obligations. Deployment of virtual coin mining devices was slow and electricity was not supplied in adequate quantities.

Based on court documents, it is known that:

«Celsius either adheres to the provisions of the contract accepted by both parties, or Core and Celsius tear it up. Before Celsius provokes a business partner to begin bankruptcy proceedings».

Celsius currently owes Core $598,743.20.

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