The reported shutdown of 37,000 Celsius-owned mining devices

  • Ultramining.com
  • 4 January, 2023 08:05
The reported shutdown of 37,000 Celsius-owned mining devices

Core Scientific, a massive mining company, has been forced to abruptly shut down crypto mining equipment. All due to Celsius Network representatives’ failure to pay their electricity bills.

On January 3 of this year, Core Scientific representatives filed new documents with the local bankruptcy court. They say that more than 30,000 mining devices belonging to Celsius Network were shut down. 

This is due to the fact that Celsius is not fulfilling its obligations to pay its electricity bills. This cryptocurrency lender reported difficulties due to extreme market conditions and eventually declared bankruptcy.

Celsius remained a major customer of Core Scientific. At the same time, Celsius’ debts negatively impacted the mining company.  

Core Scientific had previously accused the credit card company of failing to pay its electricity bills. Because of which, the miner is incurring large losses. Specifically, about $30,000 a day.

By the way

Core Scientific is considered one of the largest mining companies in the industry. It has about 232 thousand devices mining virtual coins. Late last year, however, the organization requested bankruptcy protection. At this point, it is known that the organization is not being liquidated. It continues to operate as planned. The miner has been ordered to restructure, which will help to cope with the difficult financial situation within the company.

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