Bloomberg View columnist Barry Ritholtz looks at the people and ideas that shape markets, investing and business.
If the only thing you know about sports is who wins and who loses, you are missing the highest stakes action of all. The business owners that power this multibillion dollar industry are changing, and a new era of the business of sports is underway. From media and technology to finance and real estate, leagues and teams across the globe have matured into far more than just back page entertainment. And the decisions they make have huge consequences, not just for the bottom line, but for communities, cities, even entire countries.
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A technician exits a warehouse containing bitcoin mining machines at a mining facility.
Jeremy Hill and
Celsius Network LLC has agreed to let Core Scientific Inc. shut off more than 37,000 crypto mining rigs that the bankrupt digital-asset lender hasn’t been fully paying for, resolving a months-long conflict.
Core, a Bitcoin miner that hosts rigs for third parties, itself filed for bankruptcy last month and partially blamed non-payment by Celsius for its downfall. Their hosting deal allows Core to pass on some power costs to Celsius, but the company hasn’t been paying those bills since it filed for Chapter 11 protection in July, according to lawyers for Core Scientific.