Celsius Network defaults on payments to Core Scientific, causing financial unrest.

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Travis Dominic

Crypto lender Celsius Network's legal journey has gained another chapter as Bitcoin (BTC) miner Core Scientific accused the company of refusing to pay its bills since filing for Chapter 11 bankruptcy, according to court papers filed on Oct. 19. Core Scientific, which is one of the largest publicly traded crypto companies, claims the default on payments is threatening its financial stability, already hurt by crypto winter and high energy costs. In the court filings, Celsius alleges that Core Scientific delayed mining rig deployment and supplied them with less power than required under their contract. Celsius is reportedly seeking a court order holding Core in contempt and ordering it to fulfill its obligations. Meanwhile, Core requested the court to compel Celsius to pay past-due bills or allow it to serve the contract. According to the bankruptcy court papers filed by Core Scientific...

: https://cointelegraph.com/news/celsius-network-defaults-on-payments-to-core-scientific-causing-financial-unrest/amp

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