Celsius, Core Scientific To Settle Existing Litigation: What Are The Terms?
Portfolio Pulse from Khyathi Dalal
Crypto mining providers Celsius Mining and Core Scientific have reached a speculative $45 million settlement deal for a long-standing legal dispute. Under the agreement, Celsius will pay $14 million in cash and the remaining to be adjusted debt. The deal is yet to be approved by Texas and New York judges. The agreement involves the sale of Core Scientific’s Bitcoin mining data center site in Texas to Celsius and the settlement of all existing litigation between the two parties.
September 15, 2023 | 7:02 pm
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Core Scientific has reached a $45 million settlement deal with Celsius Mining, which involves the sale of its Bitcoin mining data center site in Texas. This could potentially reduce Core Scientific's mining capabilities.
The sale of its Bitcoin mining data center could potentially reduce Core Scientific's mining capabilities and decrease its Bitcoin production, which could negatively impact its stock price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Celsius Mining is set to acquire Core Scientific’s Bitcoin mining data center site in Texas as part of a $45 million settlement deal. This could potentially expand Celsius' mining capabilities.
The acquisition of Core Scientific’s Bitcoin mining data center could potentially expand Celsius' mining capabilities and increase its Bitcoin production, which could positively impact its stock price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80