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Summary: Lawyers representing the Bitcoin miner said the company was losing north of $53,000 daily due to a hosting agreement with Celsius. The company will shutter hosting services for 37,000 Bitcoin mining rigs owned by the defunct crypto lender. Both companies filed for bankruptcy following a harsh year for crypto asset prices in 2022. ...

Core Scientific plans to shut down 37,000 bitcoin mining rigs belonging to now-defunct crypto lender Celsius, according to an agreement between the two bankrupt firms. Celsius owes Core Scientific approximately $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...

Story by Ioanna Lykiardopoulou Ioanna is a writer at SHIFT. She likes the transition from old to modern, and she's all about shifting perspectives. Ioanna is a writer at SHIFT. She likes the transition from old to modern, and she's all about shifting perspectives. In a world first, scientists from the University of Sussex and

Science & Nature From 20 million-year-old fossils to brand-new molecules, girls rule in the arena of outstanding science finds...Read MoreLeigha Geddes

Reading Time: 2 minutes Bitcoin mining giant Core Scientific will file for Chapter 11 bankruptcy today The Bitcoin mining firm will continue operating while it renegotiates its debts Core owns 5% of the global Bitcoin hash rate Core Scientific, one of the largest bitcoin mining companies...

Core Scientific has filed for Chapter 11 bankruptcy protection. The company will continue its mining operations during the bankruptcy proceedings.  Bitcoin mining giant Core Scientific Inc. has filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the Southern District of Texas. The mining firm’s liabilities are estimated to be between $1 billion and $10 billion...