{"id":9579,"date":"2023-01-05T03:57:20","date_gmt":"2023-01-05T03:57:20","guid":{"rendered":"https:\/\/cryptoheretostay.com\/?p=9579"},"modified":"2023-01-05T03:57:21","modified_gmt":"2023-01-05T03:57:21","slug":"core-scientific-to-shut-down-37000-bitcoin-mining-rigs-belonging-to-bankrupt-crypto-lender-celsius","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=9579","title":{"rendered":"Core Scientific to Shut Down 37,000 Bitcoin Mining Rigs Belonging to Bankrupt Crypto Lender Celsius"},"content":{"rendered":"<p> <script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<\/p>\n<p><strong>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.<\/strong><\/p>\n<h2>Celsius Owes Core Scientific $7.8 Million for Energy and Hosting Costs<\/h2>\n<p>Lawyers representing bankrupt bitcoin mining operation Core Scientific have told the court that crypto lender Celsius has not made payments on its mining machine hosting costs since July. The story was first reported by Bloomberg, and Celsius reportedly owes approximately $7.8 million for costs associated with the machines.<\/p>\n<p>Attorneys representing Core Scientific state that shutting down the bitcoin mining devices would save the firm a substantial amount of funds, and the company could potentially make $2 million per month if it rents out the hosting seats to another mining operation.<\/p>\n<p>Core Scientific was one of the largest bitcoin miners in the industry, and records from Nov. 7, 2022, show that 41% of the company\u2019s servers are for customers paying for hosting services. The company filed for Chapter 11 bankruptcy protection on Dec. 21, 2022, but it noted that the firm\u2019s machines will continue to operate in order to pay down debt.<\/p>\n<p>Chris Koenig, a lawyer for Celsius, has stated that the crypto lender has agreed to shut down the 37,000 bitcoin mining rigs and end the hosting contract. \u201cWe\u2019re not seeking to make a dollar off of Core after today,\u201d Koenig remarked. The news follows Celsius looking to extend customer claims.<\/p>\n<p>\u201cCelsius is preparing to file a motion later this week requesting an extension of the bar date, which is the deadline to file a claim, from Jan. 3, 2023, until early February,\u201d the company said on Twitter. \u201cOur goal is to provide account holders with additional time to file any proofs of claim.\u201d Celsius further stated that the motion will be forwarded at a hearing on Jan. 10, 2023.<\/p>\n<p>Tags in this story<\/p>\n<p>account holders, bankrupt firms, Bankruptcy, bankruptcy protection, bar date, Bitcoin Miners, Bitcoin mining, bitcoin mining devices, bitcoin mining operation, Celsius, Chapter 11 bankruptcy protection, Chris Koenig, Core Scientific, Crypto lender, customer claims, deadline, debt, energy costs, extending, hearing, hosting contract, hosting costs, hosting seats, hosting services, lawyer, Motion, proofs of claim, regular payments, Servers, shutting down, Twitter<\/p>\n<p><em><strong>What do you think about Core Scientific shutting down 37,000 of Celsius\u2019 mining rigs? Let us know what you think about this subject in the comments section below. <\/strong><\/em><\/p>\n<p>Jamie Redman <\/p>\n<p class=\"article__body__author__info__about\">\nJamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.<\/p>\n<p><i class=\"td-icon-font td-icon-twitter\"\/><\/p>\n<p class=\"images_credits\"><em>Image Credits: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n<p><strong>Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<p>More Popular NewsIn Case You Missed It<\/p>\n<p><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/news.bitcoin.com\/core-scientific-to-shut-down-37000-bitcoin-mining-rigs-belonging-to-bankrupt-crypto-lender-celsius\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>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. Celsius [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":9580,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[1],"tags":[],"class_list":["post-9579","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-updates"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/9579","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=9579"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/9579\/revisions"}],"predecessor-version":[{"id":9581,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/9579\/revisions\/9581"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/9580"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9579"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9579"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9579"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}