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Crypto firms Celsius and Core Scientific settle dispute



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Core Scientific has reached a settlement agreement with Celsius Network, effectively ending a months-long legal dispute. According to an announcement made on 15 September, Core Scientific will sell a Bitcoin [BTC] mining data center to Celsius for $14 million in cash, effectively resolving all ongoing litigation between the two parties.

The data center, based in Texas and valued at approximately $45 million, will be transferred to Celsius’ mining division upon court approval.

The dispute between the two companies initially arose in October 2022 when Core Scientific accused Celsius of failing to meet its financial obligations. In response, Celsius alleged that Core Scientific had not deployed mining rigs as stipulated in their agreement.

This contentious situation led both companies to separately file for Chapter 11 bankruptcy protection in the United States. Core Scientific filed in Texas in December 2022, while Celsius filed in New York in July 2022.

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The Texas-based data center will likely become part of Celsius’ mining operations. Although it was nonoperational at the time, the facility had the capacity to supply 215 megawatts to Bitcoin mining rigs.

Chris Ferrero, the CEO of Celsius, noted that crypto mining firm US Bitcoin played a crucial role in facilitating the transaction. Moreover, it was part of a winning bid for Celsius’ assets during the bankruptcy proceedings.

Celsius Network, with the acquisition of the Cedarvale site, strengthens its commitment to West Texas. Moreover, it expands its self-mining portfolio to a remarkable 300 megawatts.

Chris Ferraro, Chief Restructuring Officer and Interim Chief Executive Officer of Celsius Network, highlighted the collaborative effort between Celsius and US Bitcoin Corp. He expressed satisfaction in settling the litigation and emphasized the company’s focus on expanding Cedarvale’s capabilities.

U.S. Data Mining Group, Inc., doing business as US Bitcoin Corp (USBTC), will take charge of managing the construction of the 215 MW Cedarvale facility.

USBTC, a member firm of the winning bidder in a bankruptcy auction to manage and operate Celsius’ mining assets, will contribute to the growth and optimization of Celsius’ mining business.

Asher Genoot, President and Co-Founder of USBTC, expressed delight at the transaction’s success. He emphasized its significance in enhancing NewCo’s mining division. He reiterated the commitment to deliver added value to the Celsius estate before emergence and their eagerness to lead the development of the Cedarvale assets.

Importantly, this transaction has no impact on Core Scientific’s mining fleet and is not part of its three-year roadmap. The roadmap was publicly disclosed in June 2023.

Both Core Scientific and Celsius had initiated voluntary Chapter 11 restructuring proceedings in different districts. Thus, this agreement is subject to approval in both Bankruptcy Court jurisdictions.

This legal settlement between Celsius and Core Scientific is distinct from the criminal charges brought against former Celsius CEO Alex Mashinsky and former Chief Revenue Officer Roni Cohen-Pavon.

In July, Mashinsky was arrested and has since pleaded not guilty to charges related to fraud and market manipulation. In contrast, Cohen-Pavon entered a guilty plea to four charges on 13 September and is awaiting sentencing, scheduled for December.

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  • 14.10.25 08:46 robertalfred175

    CRYPTO SCAM RECOVERY SUCCESSFUL – A TESTIMONIAL OF LOST PASSWORD TO YOUR DIGITAL WALLET BACK. My name is Robert Alfred, Am from Australia. I’m sharing my experience in the hope that it helps others who have been victims of crypto scams. A few months ago, I fell victim to a fraudulent crypto investment scheme linked to a broker company. I had invested heavily during a time when Bitcoin prices were rising, thinking it was a good opportunity. Unfortunately, I was scammed out of $120,000 AUD and the broker denied me access to my digital wallet and assets. It was a devastating experience that caused many sleepless nights. Crypto scams are increasingly common and often involve fake trading platforms, phishing attacks, and misleading investment opportunities. In my desperation, a friend from the crypto community recommended Capital Crypto Recovery Service, known for helping victims recover lost or stolen funds. After doing some research and reading multiple positive reviews, I reached out to Capital Crypto Recovery. I provided all the necessary information—wallet addresses, transaction history, and communication logs. Their expert team responded immediately and began investigating. Using advanced blockchain tracking techniques, they were able to trace the stolen Dogecoin, identify the scammer’s wallet, and coordinate with relevant authorities to freeze the funds before they could be moved. Incredibly, within 24 hours, Capital Crypto Recovery successfully recovered the majority of my stolen crypto assets. I was beyond relieved and truly grateful. Their professionalism, transparency, and constant communication throughout the process gave me hope during a very difficult time. If you’ve been a victim of a crypto scam, I highly recommend them with full confidence contacting: 📧 Email: [email protected] 📱 Telegram: @Capitalcryptorecover Contact: [email protected] 📞 Call/Text: +1 (336) 390-6684 🌐 Website: https://recovercapital.wixsite.com/capital-crypto-rec-1

  • 15.10.25 18:07 crypto

    Cryptocurrency's digital realm presents many opportunities, but it also conceals complex frauds. It is quite painful to lose your cryptocurrency to scam. You can feel harassed and lost as a result. If you have been the victim of a cryptocurrency scam, this guide explains what to do ASAP. Following these procedures will help you avoid further issues or get your money back. Communication with Marie ([email protected] and WhatsApp: +1 7127594675) can make all the difference.

  • 15.10.25 21:52 harristhomas7376

    "In the crypto world, this is great news I want to share. Last year, I fell victim to a scam disguised as a safe investment option. I have invested in crypto trading platforms for about 10yrs thinking I was ensuring myself a retirement income, only to find that all my assets were either frozen, I believed my assets were secure — until I discovered that my BTC funds had been frozen and withdrawals were impossible. It was a devastating moment when I realized I had been scammed, and I thought my Bitcoin was gone forever, Everything changed when a close friend recommended the Capital Crypto Recover Service. Their professionalism, expertise, and dedication enabled me to recover my lost Bitcoin funds back — more than €560.000 DEM to my BTC wallet. What once felt impossible became a reality thanks to their support. If you have lost Bitcoin through scams, hacking, failed withdrawals, or similar challenges, don’t lose hope. I strongly recommend Capital Crypto Recover Service to anyone seeking a reliable and effective solution for recovering any wallet assets. They have a proven track record of successful reputation in recovering lost password assets for their clients and can help you navigate the process of recovering your funds. Don’t let scammers get away with your hard-earned money – contact Email: [email protected] Phone CALL/Text Number: +1 (336) 390-6684 Contact: [email protected] Website: https://recovercapital.wixsite.com/capital-crypto-rec-1

  • 15.10.25 21:52 harristhomas7376

    "In the crypto world, this is great news I want to share. Last year, I fell victim to a scam disguised as a safe investment option. I have invested in crypto trading platforms for about 10yrs thinking I was ensuring myself a retirement income, only to find that all my assets were either frozen, I believed my assets were secure — until I discovered that my BTC funds had been frozen and withdrawals were impossible. It was a devastating moment when I realized I had been scammed, and I thought my Bitcoin was gone forever, Everything changed when a close friend recommended the Capital Crypto Recover Service. Their professionalism, expertise, and dedication enabled me to recover my lost Bitcoin funds back — more than €560.000 DEM to my BTC wallet. What once felt impossible became a reality thanks to their support. If you have lost Bitcoin through scams, hacking, failed withdrawals, or similar challenges, don’t lose hope. I strongly recommend Capital Crypto Recover Service to anyone seeking a reliable and effective solution for recovering any wallet assets. They have a proven track record of successful reputation in recovering lost password assets for their clients and can help you navigate the process of recovering your funds. Don’t let scammers get away with your hard-earned money – contact Email: [email protected] Phone CALL/Text Number: +1 (336) 390-6684 Contact: [email protected] Website: https://recovercapital.wixsite.com/capital-crypto-rec-1

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