Bitcoin miner Core Scientific has accused Celsius Network of refusing to pay its bills since filing for Chapter 11 bankruptcy.
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.
As per the filing, Celsius owes Core $598,743.20 for post-petition PPT charges related to the August 2022 invoice, plus another $1,505,940.08 for post-petition PPT charges related to the September 2022 invoice, yielding a total of $2,104,683.28. Core continues to lose approximately $53,000 per day to cover the post-petition increased electricity tariffs that Celsius refuses to pay, said the company. The dispute between Celsius and Core is scheduled for a hearing by United States Bankruptcy Judge Martin Glenn next month.
