Celsius and Core Scientific Reach $45 Million Deal to Settle Mining Dispute
Coinpedia
16 Sep 2023 10:34 AM
Celsius and Core Scientific Cores, two crypto mining companies, have tentatively agreed to settle their long-running legal dispute for $45 million. Celsus...
- Celsius and Core Scientific Cores have tentatively agreed to settle their legal dispute for $45 million.
- Celsius will pay $14 million in cash, with the remainder settled through adjusted claims.
- The settlement still needs approval from judges in Texas and New York, where both companies filed for bankruptcy.
- The dispute began in October 2022 when Core Scientific claimed Celsius hadn't paid its bills.
- Both firms separately filed for Chapter 11 bankruptcy protection in the US.
- The legal dispute is separate from the criminal charges against former Celsius CEO Alex Mashinsky and former Chief Revenue Officer Roni Cohen-Pavon.
The sentiment of the article is neutral, providing factual information about the settlement of the legal dispute between Celsius and Core Scientific Cores.
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