Because of Celsius Bitcoin miner shuts down 37,000 mining rigs
Because Celsius does not pay its electricity bill, Bitcoin miner Core Scientific shuts down the mining equipment of the insolvent lending service provider.
- Bankrupt crypto lending company Celsius has agreed to shut down 37,000 mining machines. The hardware was operated by the also insolvent bitcoin miner Core Scientific.
- Therefore enough The mining company submitted a revised order proposal yesterday, January 03, which includes “Celsius acceptable revisions.”
- Specifically, it states: “All Celsius rigs will be shut down effective January 3, 2023 and will not be restarted during the transition period.”
- The mining company “cannot afford to continue bearing the burden of Celsius’ unpaid electricity costs.”
- Core Scientific has been struggling with financial difficulties since October and therefore had to file for bankruptcy a few weeks ago. More about this here.
- The miner further explained that by switching off the Celsius devices, he could generate around two million US dollars more per month.
- It remains to be seen whether this restructuring will help with the bankruptcy proceedings.
- Recently, the world’s largest money manager, Black Rock, reiterated interest in Core Scientific’s debt loans. BTC-ECHO reported.
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