Bitcoin Miner Core Scientific Settles With Celsius Over Fees
- Core, Celsius have disputes over fees for mining operations
- The miner agreed to sell its unfinished site as part of deal
A technician inspects the backside of bitcoin mining machines.
Photographer: Lars Hagberg/AFP/Getty ImagesThis article is for subscribers only.
Bitcoin miner Core Scientific Inc. and the mining unit of bankrupt crypto lender Celsius Network LLC have entered an agreement to settle litigation in part over who should pay the costs racked up from soaring electricity prices.
Core Scientific will sell its Texas Bitcoin mining data center site to Celsius and settle all existing litigation between them for total cash consideration of $14 million, pending court approvals, according to a joint statement on Friday.