Core Scientific to Shut Down Celsius Crypto Mining Equipment

First Mover Americas: One of The Largest Bitcoin Miners Goes Bankrupt

Celsius is not only Core’s largest customer, with more than 37,000 machines hosted in its facilities, but one of its largest secured noteholders, holding about $54 million of secured convertible notes, or 10% of the total issuance, Kirkland & Ellis lawyer Chris Koenig, who represents Celsius, said in the first day hearing of Core’s bankruptcy case.

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