Mining Firm Core Scientific Agrees with Celsius to Shut Down 37,000 Mining Rigs

Celsius Network, a bankrupt crypto lender, has entered into an agreement to allow crypto mining company Core Scientific shut off over 37,000 mining rigs it had been hosting for it during its bankruptcy proceedings.

Core Scientific has just filed a revised proposed order that has incorporated “revisions acceptable to Celsius” stating “all Celsius rigs will be powered down effective January 3, 2023 and will not be restarted during the transition period.”

Core Scientific accused in October Celsius of failing to pay its power bills. On December 21, the Bitcoin miner filed for bankruptcy. A week later, Core Scientific filed a motion seeking approval to reject Celsius’ contracts.