Bitcoin miner Core Scientific has planned to shut down 37,000 bitcoin mining rigs belonging to now bankrupt crypto lender Celsius . Celsius owes Core Scientific approximately USD 7.

8 million for energy and hosting costs, as the crypto lender has been unable to make regular payments as outlined in the hosting contract. Lawyers representing bankrupt bitcoin mining operation Core Scientific have told the court that crypto lender Celsius has not made payments on its mining machine hosting costs since July 2022. Trying to recoup the costs Attorneys representing Core Scientific state that shutting down the bitcoin mining devices would save the firm a substantial amount of funds, and the company could potentially make USD 2 million per month if it rents out the hosting seats to another mining operation.

Core Scientific was one of the largest bitcoin miners in the industry, and records from 7 November 2022, show that 41% of the company’s servers are for customers paying for hosting services. The company filed for Chapter 11 bankruptcy protection on 21 December 2022, but it noted that the firm’s machines will continue to operate in order to pay down debt. Representatives of Celsius have confirmed that the crypto lender has agreed to shut down the 37,000 bitcoin mining rigs and end the hosting contract.

Celsius will not be making business with Core Scientific anymore. The news follows Celsius looking to extend customer claims. .